McKee: RI still has $ 150 billion in funding for small business loans

McKee: RI still has $ 150 billion in funding for small business loans

PROVIDENCE, RI (WPRI) – There is currently around $ 150 billion in the state’s Paycheck Protection Program (PPP) left and new Governor Dan McKee is urging struggling small businesses to take advantage of the funding.

In an online forum Tuesday, McKee pointed out that federal loans available through the Small Business Administration can range from $ 100,000 to $ 250,000, and sometimes even more.

“If designed correctly, these dollars can be turned into an outright grant,” McKee said. “It means you wouldn’t have to repay.”

Rhode Island SBA Director Mark Hayward has said right now that companies with 20 or fewer employees are …

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