Business owners have been eagerly anticipating a $349 billion loan program meant to cushion the economic blow of the coronavirus pandemic.
Some will have to wait a little longer.
The Paycheck Protection Program, which officially opened for borrowers Friday morning, provides up to $10 million in forgivable loans to small businesses with 500 or fewer employees.
It is one of the core provisions of the $2 trillion federal economic stimulus signed into law last Friday, known as the CARES Act, which also provided expanded unemployment benefits and direct payments to millions of American households.
The loan program, meant to