PPP Program Is Out of Funds — But Firms Should Keep Applying

There’s a reason the money’s all gone — the terms of the Paycheck Protection Program for small businesses are generous.

Less than two weeks after the program’s debut, the $349 billion allocated for the Paycheck Protection Program has been spoken for.

Congress and the White House are arguing about authorizing more funding to the PPP, and the Small Business Administration has stopped accepting applications.

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Rodrigo Sermeño
, The Kiplinger Letter

Rodrigo Sermeño covers the financial services, housing, small business, and cryptocurrency industries for The Kiplinger Letter. Before joining Kiplinger in 2014, he worked for several think tanks and non-profit organizations in Washington, D.C., including the New America Foundation, the Streit Council, and the Arca Foundation. Rodrigo graduated from George Mason University with a bachelor's degree in international affairs. He also holds a master's in public policy from George Mason University's Schar School of Policy and Government.