YANKTON, S.D. (WNAX) – Congress last week added another $250 billion to the Paycheck Protection Plan for businesses. The Small Business Administration opened applications again Monday at 10:30. That website crashed about 10 minutes later, but was restored later in the day.
Rob Stephenson, President and C.E.O. of First Dakota National Bank based in Yankton, says the initial rules were aimed at businesses with employees.
Stephenson says they reached out to businesses that could qualify when the program was first announced.
Stephenson says it’s a hard time for a lot of businesses now.
Stephenson says rules and regulations for the loan program are still being written with few clear guidelines.