New $ 310 billion for small business PPP loans is likely already gone, banks say
The loans, which can be as high as $ 10 million, are based on the size of a company’s payroll and offer a discount if the money is spent to retain workers or rehire laid-off workers. Many businesses that have loans are starting to bring back their employees, and some states are relaxing their restrictions on non-essential work, allowing businesses to reopen.