Page 12 - Second Draw News Today

Operator Ladies and gentlemen, thank you for standing by and welcome to the BankUnited, Inc., Fourth Quarter and Fiscal Year 2020 Earnings Conference Call. [Operator Instructions] Please be advised that todays conference is being recorded. [Operator Instructions] I would now like to hand the conference over to your speaker today, Susan Greenfield, Corporate Secretary. Please go ahead, maam. Susan Wright Greenfield -- Investor Relations, Corporate Secretary Thank you, Victor. Good morning and t...

To embed, copy and paste the code into your website or blog: The new Economic Aid Act passed by Congress authorizes new PPP loans for first-time borrowers, but also additional PPP loans for those that already received a loan last year. This addresses the requirements and issues for the self-employed and sole proprietors, who have no employees, and who wish to apply for a second PPP loan under the new law (“Second Draw PPP Loan”). Requirements: If you are self-employed/or a sole proprietor, ...

The SBA has opened the Paycheck Protection Program to all participating lenders. Eligible small businesses can...

The U.S. Small Business Administration has already approved approximately 60,000 Paycheck Protection Program loan applications submitted by nearly 3,000 lenders, for over $5 billion, between the programs re-opening on Monday, Jan.

To embed, copy and paste the code into your website or blog: On December 27, 2020 the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act) was signed into law, which reopened the Paycheck Protection Program (PPP) both to first-time borrowers and, subject to stricter conditions and limits, to borrowers that previously received a PPP loan (second draw borrowers). [1] Under the Economic Aid Act, the last day to apply for and receive a loan under the reopened...

Application portal open for second draw of PPP loans Application portal open for second draw of PPP loans By Patrick Huddleston | January 21, 2021 at 9:53 AM EST - Updated January 21 at 9:35 PM The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a loan to apply for a Second Draw PPP Loan with the same general loan terms. A borrower is generally eligible for a Second Draw PPP Loan if he or she: Previously received a First Draw PPP Loan and wi...

2021 Labor and Employment Spotlight: A List of Key Legal Updates for Employers, January 13, 2021, Nichole Atallah, Sara Nasseri, and Sarah Nash Undeniably, 2020 was a year like no other. Faced with a global pandemic and a tumultuous election, employers were presented with a unique set of challenges and a myriad of new—and at times, very vague—laws and regulations. Despite the start of a new year and a new administration in just a week, much of 2020 still lingers on, including some of its no...

The Coronavirus Aid, Relief, and Economic Security Act (as amended and modified, the “CARES Act”) was enacted to provide immediate assistance to individuals, families, and businesses...

The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, has re-opened the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders.

Second wave of Paycheck Protection Program loans has started. Here’s what to know A second round of low-interest and potentially forgivable federal loans to businesses hit hard because of the COVID-19 pandemic is underway. The Small Business Administration began accepting loan applications for Second Draw Paycheck Protection Program Loans on Wednesday, Jan. 13, and will accept them until March 31, according to the SBA website. The new program is part of the $900 billion COVID...