Not rendering correctly? View this email as a web page here. June 3, 2021

The PPP is now closed

It's official from the U.S. Small Business Administration: The Paycheck Protection Program closed on Monday. Funding is all used up, and the program is no longer processing applications.

 

In a little over a year, the pandemic program provided nearly $800 billion in loans to 8.5 million small businesses and nonprofits.

 

It was a program that moved a lot of money out the door quickly, with changes to allow for access and equity made along the way showing that it very much evolved as it went.

 

This week's end of the program has us wondering: What can we learn from this emergency relief for the long-term? Did you get a PPP loan, and was it effective? Reply here or email baltimore@technical.ly.

 

—Technical.ly Assistant Editor Stephen Babcock (stephen@technical.ly)

 

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