Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

SBA Answers Your Questions About Next Round In The Paycheck Protection Program

ruth chris
Rich Pedroncelli
The Ruth's Chris restaurant chain is among those businesses that qualified for the maximum $10 million in loans under the Paycheck Protection Program intended for small business affected by the coronavirus.

President Trump signed a new $484 billion relief package on Friday. The deal includes $310 billion to replenish the Small Business Administration's Paycheck Protection Program. The PPP ran out of money on April 16, after just 14 days.

Many large businesses, including Potbelly, Ruth's Chris Steakhouse and Shake Shack, came under fire for receiving sizable loans in the first days of the program. Shake Shack has since returned the money it received and there have been calls for other businesses to do the same. The new bill closes a loophole in the law that allowed larger firms to participate in the program.

Even with the new appropriations, there is widespread concern the funds still will not be enough to meet the surging demand for funds. Joining Cincinnati Edition to discuss the loan process and the high demand is U.S. Small Business Administration Great Lakes Region Regional Administrator Rob Scott. We are also joined by two small business owners: Sewendipity LoungeOwner Karen Williams; and MORTAR Managing Partner and Creative Director Allen Woods.

Listen to Cincinnati Edition live at noon M-F. Audio for this segment will be uploaded after 4 p.m. ET.

Never miss an episode by subscribing to our podcast: 

Michael Monks brings a broad range of experience to WVXU-FM as the host of Cincinnati Edition, Cincinnati Public Radio's weekday news and information talk show.