Stimulus Package 2 Ppp Loans

December 2020 stimulus package.

Stimulus package 2 ppp loans. If your ppp loan was for 150 000 or less there will be a new. New stimulus package to include second draw of ppp loans update. After months of disagreement congress finally approved a second stimulus package on december 20.

The covid 19 relief package worth 900 billion includes 284 billion for the popular paycheck. Forgiveness is not automatic. Special to usa today.

The so called ppp second draw is intended to provide loans with a maximum amount of 2 million for smaller and harder hit businesses that previously applied for and received ppp funding. Ppp2 creates a simplified forgiveness process for loans of up to 150 000. Ppp loans are available to small businesses as part of the cares act.

The first set of ppp loans were provided for in april 2020 and depleted by august. December 29 2020 the consolidated appropriations act of 2021 has been signed into law by the president. The following summarizes the paycheck protection program ppp 2 provisions of the new stimulus law.

It simply describes how many employees you were able to retain and how much you spent on payroll costs. You still must apply but for loans of 150k or less you can use a one page certification. The crf addresses the need for continued funding and clarifies the loan forgiveness process which was previously unclear.

One of the largest components of the now signed second stimulus bill is 284 billion to support small business through a rebooted and revised paycheck protection program ppp lending program that.