The New York State Small Business Development Center at Binghamton University is offering to help local small businesses navigate the Small Business Administration Paycheck Protection Program loan process.

Getty Images-Serg ZSV
Getty Images-Serg ZSV

The CARES Act includes a provision to help business keep employees on the payroll during the pandemic crisis.

Recently, the measure was extended to allow small businesses more time to apply for PPP funding.

Loans obtained through the program are potentially forgivable so long as businesses use at least 60 percent of the funding for payroll with the rest for other allowed expenses.

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Businesses have through August 8 to apply.

Since mid-March, Binghamton SBDC advisors have assisted 720 small businesses, investing over 10,000 hours of work, to fill out required paperwork.

For more information on getting assistance from the program, contact Rochelle Layman at 607-777-4027.

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