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Short PPP Window for Small Businesses Starts As Demand Drops (1)

Feb. 24, 2021, 7:01 PM; Updated: Feb. 24, 2021, 8:55 PM

A new Biden administration policy designed to help the smallest businesses get pandemic relief loans arrives amid slowing demand for the relief program, prompting some lenders to question how effective it will be in boosting targeted activity.

Starting Wednesday, for the next two weeks only businesses with fewer than 20 employees can apply for forgivable Paycheck Protection Program loans. The exclusive window is intended to help lenders focus on the smallest businesses, so they don’t have to compete with larger ones with roughly half of the program’s allocated funding up for grabs before it closes March 31.

Lenders and...

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