Stimulus Package Update Sba

The following summarizes the paycheck protection program ppp 2 provisions of the new stimulus law.

Stimulus package update sba. 4 16 2020 sba will defer existing disaster loans through the end of 2020. What s in the stimulus package for small businesses ppp loans and cultural grants. It s a giant last minute bill some 5 593 pdf pages long but fortunately you don t have to read the whole thing.

The new stimulus package is providing more than just emergency relief for small businesses. Such as the small business administration sba and treasury department. President trump has signed into law a second stimulus bill called the coronavirus response and relief supplemental appropriations act the new program among other things creates a second loan from the ppp called a ppp second draw loan for smaller and harder hit businesses.

Small business highlights from the economic stimulus aid package ppp 2 how to apply for a small business payroll protection program forgivable loan. An sba loan that helps businesses keep their workforce employed during the coronavirus covid 19 crisis. Federal agencies 2020 trump signs the bi partisan stimulus bill into law update.

That could result in a major lift for lenders and borrowers when the time comes to invest in an economic recovery industry experts said. Unemployment help from u s. The small business administration sba has 10 days to issue guidance on the application process.

The stimulus package is finally here with just days left in 2020. Breaking down the 900b stimulus package and 1 4t omnibus bill. Below is an overview of the terms of the ppp second draw loan.

While the 900 billion legislation revives the paycheck protection program it also enhances key elements of the small business administration s traditional lending efforts. Health and government officials are working together to maintain the safety security and health of the american people. Answers to your questions about the stimulus bill updated dec 30 2020 the economic relief package will issue payments of 600 and distribute a federal unemployment benefit of 300 for at least 10.