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SBA reviving Paycheck Protection Program for small businesses Millions of business owners are about to get additional help weathering the coronavirus outbreak. Posted: Jan 8, 2021 9:36 AM Updated: Jan 8, 2021 10:57 AM Posted By: Associated Press NEW YORK (AP) - Millions of business owners are about to get additional help weathering the coronavirus outbreak. The program will re-open the week of Jan. 11. The Small Business Administration and the Treasury Department are reviving the Paycheck Pro...

Fri, 01/08/2021 - 2:00pm -- tim Vermont Business Magazine The US Small Business Administration, in consultation with the Treasury Department, announced today that the Paycheck Protection Program will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially 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 embed, copy and paste the code into your website or blog: On December 27, 2020, President Trump signed the 2021 Consolidated Appropriations Act, which also contained the latest stimulus relief bill. Part of that bill was the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venue Act, which made changes to all Paycheck Protection Program (PPP) loans, re-opened the PPP program for new loans, and allowed certain borrowers to obtain a second PPP loan. Ability to Apply for a Second PPP L...

In the waning days of 2020 (Sunday, December 27, to be exact), President Trump signed HR 133, the  Consolidated Appropriations Act, 2021, a combination COVID-19 stimulus/relief and omnibus government funding bill passed by the House and Senate on December 21, 2020. The Act provides approximately $900 billion to bolster the U.S. economy amid the continued spread of COVID-19. In addition to individual “2020 Recovery Rebates” (refundable tax credits) in the amounts of $600 per taxpayer and $6...

Tuesday, January 5, 2021 On Sunday, December 27, 2020, President Donald Trump signed the Consolidated Appropriations Act, 2021 (the “Act”). The Act combines a $1.4 trillion omnibus appropriations bill for the Federal Government for Fiscal Year 2021 and $900 billion of relief in response to the SARS-CoV-2 (“COVID-19”) pandemic. The Act extends several critical CARES Act programs that had been due to expire on December 31, 2020, including the Paycheck Protection Program (the “...

RALEIGH – The new pandemic relief package signed into law by President Trump on Sunday night includes a new round of Payroll Protection Plan funding – $284 billion – and other help for small businesses. But there are significant changes from the PPP plan launched earlier this year than led to some $12 billion in funding for companies and other entities across North Carolina. Providing an in-depth look at this new program at the request of WRAL TechWire is Peter Gwaltney, CEO of the North ...

To embed, copy and paste the code into your website or blog: Congress passed a wide-ranging COVID-19 relief package on December 22, 2020, that provides over $900 billion in aid to individuals and businesses. President Trump has now signed the relief bill, called the Bipartisan-Bicameral Omnibus COVID Relief Deal, into law. The law addresses four areas of importance to franchising: the Families First Coronavirus Response Act (FFCRA), the Paycheck Protection Program (PPP), the Economic Injury Di...

To embed, copy and paste the code into your website or blog: The Paycheck Protection Program (PPP), originally part of the March 27, 2020, CARES Act, has undergone several changes since its inception, including June’s PPP Flexibility Act, a myriad of Interim Final Rules and other guidance issued by the Small Business Administration (SBA). On December 27, 2020, a new stimulus bill (the Consolidated Appropriations Act, 2021) was signed into law, comprehensively changing the PPP and associated ...

Contributing authors: Diana Kim, Kaitlyn M. Baietto Certain provisions of the Coronavirus/COVID-19 economic stimulus legislation are subject to the issuance of government regulations and other government action; thus, certain details regarding the legislation may be clarified or added. On December 27, 2020, a new relief bill was passed into law intended to provide much-needed economic support to assist businesses in making it through this winter. The bill, known as the “Consolidated Appropr...

To embed, copy and paste the code into your website or blog: On December 27, the President signed the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Act) addressing changes to the rules regarding PPP loans, including making a supplemental PPP loan available to many PPP borrowers and increasing the types of business expenses that can be forgiven. Among many other changes discussed in detail below, the Act provides the following key changes in regard to the PPP program: �...