The Paycheck Protection Program, initially rolled out last spring to help businesses survive the financial blows of the coronavirus pandemic, is open again for another round of loans.

The program is intended to incentive small businesses to keep their workers on the payroll instead of laying them off, and the Small Business Administration will forgive the loans if all employee retention criteria are met and the funds are used for eligible expenses. That criteria includes payroll costs, payments on business mortgage interest payments, rent or utilities.

On Monday, Jan. 11, the loan applications opened with priority for first-draw loan applications from participating community financial institutions, which are financial institutions dedicated to affordable lending to low-income and low-wealth communities and people of color. On Monday and Tuesday, applications are limited to small businesses that didn’t receive loans the first time around and who lend with CFIs.

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