Paycheck Protection Program extended

Published: Mar. 31, 2021 at 6:56 PM EDT
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ROANOKE, Va. (WDBJ) - President Biden has signed an extension of the Paycheck Protection Program, giving small businesses in western Virginia two more months to apply.

The program has provided a lifeline to many businesses that have struggled during the pandemic. Atlantic Union Bank CEO John Asbury says more could benefit before the program expires.

“For any business which is eligible, we strongly encourage them to consider applying for it,” Asbury told WDBJ7 in an interview Wednesday afternoon. “It is a great deal. It is effectively a grant structured as a forgivable loan, never seen anything like that before.”

Since the PPP program began last year, Asbury said Atlantic Union Bank has provided more than 15,000 loans for $2.2 billion.

He says most of that went into the bank’s Virginia market.

For more information, visit the company’s website.

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