Yesterday, a group of front line leaders working to implement the economic relief programs got together and brainstormed ideas about opportunities and ideas about improving the next round of relief. This morning I would like to bring one of the specific questions that we debated to this community.
All indications are that a new round of PPP will be approved soon in Washington D.C. Like everything else in life, the devil is in the detail. A legitimate question is, how should this round work.
Last time, almost any business who wanted to could apply for two and a half months of their pre-Covid payroll costs. And you had to make an attestation that you were concerned about the economic uncertainty of Covid, and it’s impact on your business. It was a broad program.
This time will likely be different. The assumption is that business owners will be able to apply for the second round of PPP. So what should the criteria be, and how much should the business qualify for? Think about this, and put yourself in the shoes of a legislator trying to finalize the deal.
Let’s share our specific ideas about the next round of PPP. Remember that the economy and many struggling small businesses need help. But it’s also our taxpayer money that we will be leaving the bill for this to our grandkids one day. Let’s collaborate and share below.