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January 20, 2021 9:28 AM Robin Saks Frankel - Forbes Advisor
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January 22, 2021 10:54 AM
The Paycheck Protection Program (PPP) has reopened to all lenders, and with this fresh wave of funding comes new eligibility requirements and further clarifications around the forgiveness process.
The bipartisan coronavirus relief legislation approved late last year included an additional $284 billion for PPP loans aid designed to help small businesses keep their doors open and continue to pay employees during the pandemic. This new round of loans is available to first-time applicants, as well as those businesses that have already benefited from the program. The most recent legislation also eased loan forgiveness rules, which businesses had earlier said were too burdensome.
KXLY
January 15, 2021 6:05 AM Robin Saks Frankel - Forbes Advisor
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January 17, 2021 3:56 AM
Paycheck Protection Program funds will reopen to all PPP lenders next week, and with this latest round comes yet another version of guidance aimed at providing clarity to a program that has proven anything but clear for small business owners.
There are some notable changes to the program first approved by Congress last spring to help struggling small businesses stay afloat during the coronavirus pandemic. For example, businesses now can seek a second loan.
But, as we’ve seen before, some aspects of the program remain unclear when it comes to eligibility and forgiveness. Still, program changes may make the process easier. Here are six things to know.
KXLY
January 15, 2021 8:46 AM Robin Saks Frankel - Forbes Advisor
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January 17, 2021 6:41 AM
This story is part of a series on the new Biden administration and what Biden has planned for his first 100 days and beyond.
Xavier Becerra, President-elect Joe Biden’s pick for Secretary of Health and Human Services, has long supported expanding health care in the US. But could he lead reform that gives America’s 28.9 million uninsured access to health care?
Becerra had a pivotal role in helping to draft the Affordable Care Act (ACA) during his 12 terms in the House of Representatives representing California. And as California’s attorney general, Becerra led a coalition of 20 states and the District of Columbia to protect the ACA against the Trump administration’s efforts to dismantle it.
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January 11, 2021 7:43 PM Robin Saks Frankel - Forbes Advisor
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January 13, 2021 5:40 AM
The Treasury Department has reopened the Paycheck Protection Program (PPP), following new guidance on the small business forgivable loan program. The new terms aim to quell the earlier criticisms of the relief effort. Some 5,400 businesses have received about $520 billion to date, but the aid program has been plagued by confusion surrounding forgiveness eligibility and complaints that the smallest businesses were unable to gain access to much-needed support.
“Today’s guidance builds on the success of the program and adapts to the changing needs of small business owners by providing targeted relief and a simpler forgiveness process to ensure their path to recovery,” Administrator Jovita Carranza said in a joint press release issued last week by the Treasury and the Small Business Association (SBA).