Home | News | From DTE Energy – Business Resources, Payment Plans and Paycheck Protection Program Gets Re-Funded
From DTE Energy – Business Resources, Payment Plans and Paycheck Protection Program Gets Re-Funded
Paycheck Protection program:
The Paycheck protection program has received additional funding as of Friday April 24 – the President signed a $484 billion small business relief bill Friday afternoon, with applications opening this morning.
We encourage Michigan businesses to apply for funding, and if they applied previously, to apply again if they previously did and did not successfully receive funding.
According to a Free Press article on 4/24, Michigan businesses and eligible nonprofits were approved for 43,438 Paycheck Protection forgivable loans for the initial round, totaling about $10.4 billion, according to the Small Business Administration. Nationwide, the average size of the loans was $206,000 and the construction industry was approved for the most dollars (13% of the total). The business administration has yet to report loan details for individual states.