A second round of Paycheck Protection Program loans opened up first to underrepresented small business owners, and then the general population this month. It offered businesses a chance to get a second loan in 2021.

Initial data indicates more than $1 billion in loans have been approved for Pennsylvania businesses, the U.S. Small Business Administration said Thursday.

The SBA reopened the PPP loans, which are meant to help small businesses deal with losses created by the Covid-19 pandemic, on Jan. 11 with $284 billion appropriated through the Economic Aid Act. Between Jan. 11 and Jan. 24, 15,000 PPP loans totaling more than $1.58 billion have been approved by the SBA in Pennsylvania, the org said.

READ FULL ARTICLE HERE