PPP Loans Landed By Nearly 25% Of Natural Product Firms That Tried Again – NPA
Natural products companies fared better in the second round of CARES Act federal PPP funding as a Natural Products Association survey showed 25% that re-applied were successful. It also found 70% of businesses surveyed applied for assistance in the second tranche, which has $120bn still available.
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NPA found 95% percent of natural food, supplement and cosmetic marketers that applied for a small business loan under CARES Act funding were denied. But industry is hopeful $310bn more made available will lead to more successful applications.
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