Second Draw Paycheck Protection Program News Today

The U.S. Small Business Administration (SBA) New York District has announced its 2022 National Small Business Week award recipients, recognizing a city-based educational game creator as Small Business Person of the Year.

Immotion Group revenue increased 230% during a year of recovery and progress

Last updated: May 18, 2021 Overview On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act” (“Economic Aid Act”). The Economic Aid Act made available approximately $284.5 billion in new Paycheck Protection Program (“PPP”) funding and reopened the PPP for first- and second-draw loans on terms that are gen...

On January 6, 2021, the Small Business Administration (the “ SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“ Second Draw Rules”). These rules announced the implementation of section 311 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “ Economic Aid Act”). The SBA also released an Interim Final Rule called “Business Loan Program Tempor...

On January 6, 2021, the Small Business Administration (the “ SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“ Second Draw Rules”). These rules announced the implementation of section 311 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “ Economic Aid Act”). The SBA also released an Interim Final Rule called “Business Loan Program Tempor...

Overview On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act” (“Economic Aid Act”). The Economic Aid Act made available approximately $284.5 billion in new Paycheck Protection Program (“PPP”) funding and reopened the PPP for first- and second-draw loans on terms that are generally favorable to microbu...

Overview On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act” (“Economic Aid Act”). The Economic Aid Act made available approximately $284.5 billion in new Paycheck Protection Program (“PPP”) funding and reopened the PPP for first- and second-draw loans on terms that are generally favorable to microbu...

Small Business owners are no strangers to being busy. Between serving customers, managing your employees, marketing your business, financials, payroll, scheduling, and paperwork –there’s little time for much else. Then you add a global pandemic to the mix and while in many ways the world seemed to slow down, small business owners everywhere had to work that much harder to try to find ways to survive. Now you’re hearing about the second wave of a coronavirus relief program for small busi...

The Fairness for Craft Beverage Producers Act corrects what U.S. Rep. Jason Crow’s office described as an “oversight” that made craft breweries ineligible for the maximum loan amount and also

  Milwaukee , Wis. –  Business owners who received a loan under the Paycheck Protection Program may qualify for the Second Draw PPP Loan. At least $25 billion is being set aside for eligible borrowers with a maximum of 10 employees, or for loans of $250,000 or less to eligible borrowers in low or moderate income neighborhoods. The same general loan terms are applicable as the First Draw PPP Loans with a few changes. What is the Second Draw Paycheck Protection Program? The Second Draw Pay...