Post PPP: Businesses Scramble for New Funding Source

2021-08-18T21:44:45-04:00

The Paycheck Protection Program (PPP) was established to help small businesses afford to keep their employees on the payroll throughout the COVID-19 pandemic. Now that the set duration of PPP has come to an end,  many businesses, still struggling with the impact of the pandemic, are forced to look elsewhere for funding. With  PPP completing its second round and coming to a close, alternative lenders credit unions, institutional lenders, and other non-bank sources of funding are already seeing a spike in demand. Banks, meanwhile, are heavily focused on loan forgiveness in the wake of the pandemic's [...]