Another round of Paycheck Protection Program loans is getting closer. But small businesses seeking relief will have to wait a little longer. Late Wednesday, the U.S. Department of the Treasury and Small Business Administration unveiled new guidance for $284.5 billion worth of federally backed relief loans to small businesses harmed by the coronavirus pandemic.

After months of delays and partisan bickering, Congress passed a second stimulus bill, which has now been signed by President Trump. A significant part of this second stimulus includes renewed funds for Paycheck Protection Program (PPP) loans.

After facilitating $8 billion in approvals for COVID-19 relief funds, the company relaunches its digital PPP application to expedite the approval process for small businesses when the program reopens