Paycheck Protection Program | Guidance & Resources
The Small Business Association (SBA) announced that PPP will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital for underserved communities, only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter.
The latest COVID-19 pandemic relief bill, approved in late December, created a second draw of Paycheck Protection Program (PPP) loans. Eligible restaurants and small businesses can access $284.5 billion in new PPP loans, which can be fully forgiven if proceeds are used for allowable expenses during a selected 8-week or 24-week period that begins after the proceeds are received. This document outlines
new rules published by the federal government on January 6.
The Small Business Association (SBA) and Treasury released their official guidance on how the second round of PPP will work. The National Restaurant Association has distilled it into a seven-page “PPP User Manual”.
The latest COVID-19 pandemic relief bill, approved in late December, created a second draw of Paycheck Protection Program (PPP) loans. Eligible restaurants and small businesses can access $284.5 billion in new PPP loans, which can be fully forgiven if proceeds are used for allowable expenses during a selected 8-week or 24-week period that begins after the proceeds are received. This document outlines
new rules published by the federal government on January 6.
The Small Business Association (SBA) and Treasury released their official guidance on how the second round of PPP will work. The National Restaurant Association has distilled it into a seven-page “PPP User Manual”.