Although the clock is running out for RIAs who may still want to apply for a Small Business Administration loan through the Paycheck Protection Program (PPP), other options are available that may make more sense for some firms, according to DeVoe & Co. and Live Oak Bank executives.
Many RIAs still don't know about the opportunities available to them under the SBA PPP loan program and could miss out if they don't apply by the March 31 expiration date, Brad Grubb, managing director at DeVoe & Co., pointed out Wednesday in a DeVoe CapitalWorks webinar.
(On Thursday afternoon, lawmakers introduced a bill to extend the PPP loan application deadline to May 31.)
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Jeff Berman
Jeff joined the ThinkAdvisor team as a staff reporter in July 2019. Before joining ThinkAdvisor, he was a freelance reporter for five years, covering mainly technology, business, media and entertainment news for publications including The Miami Herald, Newsday, TheStreet.com, Long Island Press and multiple American City Business Journals websites. He also reported for several consumer electronics publications and was a technology reporter for publications of the Media & Entertainment Services Alliance. Prior to that, he worked as a reporter and editor for Consumer Electronics Daily and other Warren Communications News publications for 15 years. He graduated with an MA in journalism from New York University.
