Headlines

Video: Applications Open for 2nd Round of Paycheck Protection Program

An additional $310B is available for small businesses.

The Natural VS. Lab-Grown Diamond Conundrum Part II: How to Sell Both to Maximize Your Profits!

Wilkerson: “They Feel Like Family”

How to Define Employee Performance and Create Individualized Consequences

Smith and DeGroot Release “Much Ado About Lab-Grown Diamonds” Podcast Episode

Published

3 years ago

April 27, 2020

INSTORE Staff

Businesses began applying on April 27 for the second round of loans from the Small Business Administration’s Paycheck Protection Program.

The original round, worth $349 billion, ran out in less than two week. President Donald Trump signed a bill authorizing an additional $310 billion for the program.

The stimulus loans are designed to provide an economic lifeline for small businesses during the COVID-19 crisis. They’re meant to cover up to 10 weeks of payroll expenses, up to a maximum of $10 million.

Inc. notes that the loans “can be converted into forgivable grants so long as the company doesn’t lay off employees.”

More details of the program are available here.

The new round is expected to go quickly, just like the first. So if you plan to apply, experts advise doing so right away.

Congress is now discussing a possible third round.

Watch a Today video about the second round of funding:

click to Comment(Comment)

Up Next

Jewelers Say Some Business Tweaks May Be Permanent

Don't Miss

Istanbul Jewelry Show March Edition Postponed Until 2021

INSTORE Staff

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

Wilkerson Testimonials

Wilkerson: “They Feel Like Family”

Newton’s Jewelers in Fort Smith, Ark., was a true institution. But after being at the helm for most of his life, owner (and descendent of the original founder) Kelly Newton decided it was time to retire. He chose Wilkerson to handle the sale. “I’ve known the owners of Wilkerson for a long, long time. I felt at home with them,” he says. The final retirement sale was just a “blast” and the Wilkerson sales team made it so very simple and straightforward, says Newton. Would he recommend Wilkerson to others? Absolutely. “They’ve done incredible work,” says Newton. “They feel like family.”