McCoy: Paycheck Protection Loans Are Back, Apply Now | WAMC

McCoy: Paycheck Protection Loans Are Back, Apply Now

Apr 28, 2020

Small businesses and nonprofits in Albany County are being urged to apply quickly for the second rollout of the federal Paycheck Protection Program.

Freshly infused with an additional $310 billion and now accepting new applications, the U.S. Small Business Administration initiative offers loans with 1% interest to companies with 500 employees or fewer.

Albany County Executive Dan McCoy:

"The small businesses that might be struggling, don't know how to fill it out, please, reach out to people in your community that can help you fill that out. It's very important. There's a lot of benefits that came through this last payment package that can help you to re-open up your doors and that's what we wanna do here in Albany County."

Loans become grants for those who keep their employees on the payrolls during the eight-week loan period. 

To apply, please use their link here.