Small Businesses Administration opens new round of PPP loans

REDDING, Calif. – More financial aid is on the way for businesses.

The Small Businesses Administration is opening another round of PPP loans. Businesses that really need this financial help can start applying for these loans from January 19th.

Rich Pires, owner of Herried Music in downtown Redding, says business for him is going strong. Pires told Action News he won’t be playing for this round of PPP loans because he believes other companies need them more.

“We hope the money will go to businesses that really need it and need to stay in business,” Pires said. “Especially restaurants and things that need to be closed and cannot operate at full capacity.

Businesses planning to apply for PPP loans must have fewer than 300 employees, must have used their first round of PPP funds, and must show at least a 25% decline in business.

The deadline to apply for PPP loans is March 31st. Click on here apply for PPP loans.

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