Stimulus Round 2 Small Business

As in the first round of ppp you can get up to your average monthly payroll in 2019 times 2 5.

Stimulus round 2 small business. With the ink not dry on the legislation from round one actually the legislative bill has not even presented to parliament yet its remarkable that we are today dealing with a second much larger round of stimulus measures. This makes the grant a better fit for very small businesses than mid sized ones who may want to concentrate on getting a ppp loan. Between april and august the program distributed 523 billion in forgivable government backed loans to 5 2 million small businesses to help them keep.

Businesses don t have to pay the loans back if they use the money for eligible expenses. Reports found that only 5 of ppp loan recipients received more than 50 of the money provided in the bill most of which was directed towards larger companies. Find out what the new stimulus package says about the 10 000 targeted eidl grants that will become available in early 2021.

And even entities that did get money last year can apply for second round loans of up to 2 million. In other words if your total 2019 monthly payroll cost averaged 10 000 you. Round 2 cash flow boost for business now 100 000 max.

The paycheck protection program is back. What a difference 10 days makes. The second stimulus bill the economic aid to hard hit small businesses nonprofits and venues act has been passed by congress and signed into law by president trump.

Impact on small businesses.