High anxiety as small businesses worry the loan money will run out

By Around the Web

(CNBC) — Some small-business owners are growing increasingly worried that loan money being distributed as part of the coronavirus relief package will run out before they can access funds.

The Paycheck Protection Program, which is being overseen by the Small Business Administration, will pay out up to $349 billion in forgivable loans to businesses with 500 or fewer employees.

It is one of the core provisions of the $2 trillion economic stimulus package President Trump signed into law March 27. Businesses can qualify to have eight weeks of their loan forgiven if funds are used for certain business expenses, such as payroll and rent.

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