Rep. Yednock alerts businesses to new deadline for Paycheck Protection Program

Rep. Yednock alerts businesses to new deadline for Paycheck Protection Program

St. Rep. Lance Yednock (D-Ottawa) is encouraging small business owners to take advantage of the extended Paycheck Protection Program deadline. The Illinois House member says the program has the means to provide businesses with loan support for operations. He says the extension gives small businesses an opportunity to receive assistance for the economic disruption from the virus. Interest rates for PPP loans are at one percent and are eligible for forgiveness if the funds are used for eligible payroll costs. The deadline to apply for the PPP loan is August 8.