Stimulus Update Today Ppp

Second ppp loan available for the hardest hit small.

Stimulus update today ppp. The revisited ppp comes complete with a new set of eligibility requirements the first of which being that businesses with more than 300 employees need not apply. An additional 300b in funds to the u s. Read our full breakdown below.

The latest stimulus bill from congress which passed on december 21 2020 includes. 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.

The small business administration sba has 10 days to issue guidance on the application process. In particular the consolidated appropriations act 2021 addressed business requests related to the next rollout of paycheck protection program ppp loans ppp loan forgiveness ppp expense deductibility and individual stimulus. I believe we have a moral obligation says president elect joe biden dr.

The other good news is that the new bill offers a second ppp loan for companies with fewer than 300 employees who suffered a 25 drop in any quarter s revenue from 2019 to 2020. Here s very good news. This is a more flexible and better defined window than under previous versions of the loan program.

Congress may act yet again to increase economic impact payments from 600 to 2 000 as well as make other adjustments related to policy differences between republicans and democrats but our expectation is that the key provisions for businesses will remain in place. But noted reuters news service businesses will be able to use ppp funds over eight to 24 weeks. You can apply for a new ppp forgivable loan whether or not you received one before.

Congress at last passed a second stimulus bill this week as of this writing it is still awaiting president trump s signature and it includes a second round of ppp loans for affected small. Oz asks scott peterson s sister if she knows what caused him to kill his wife and unborn child.