$3.5 Billion Available For Connecticut Businesses In Newly Passed Relief Bill
Connecticut officials said about $3.5 billion dollars is available for businesses in the state through the next round of the federal Paycheck Protection Program just approved by Congress.
David Lehman is the commissioner of the state Department of Economic and Community Development.
He said small businesses should apply for a loan, even if they did not receive relief in earlier rounds.
“We’d encourage you to talk to your local bank or lender, or you can do it with an online lender. But starting to get the application in order and the information you are going to need. We think that is going to be critical because we want to make sure that when that window opens in January Connecticut businesses are again at the front of the line,” Lehman said.
More than 64,000 Connecticut businesses received the forgivable PPP loans in the earlier rounds of the program.
They’ve had the second highest volume of PPP loans in New England.