SBA and U.S. Treasury Issue Interim Final Rule on Paycheck Protection Program Loan Forgiveness | Hinshaw & Culbertson LLP
To embed, copy and paste the code into your website or blog: On December 28, 2020, former President Trump signed the Consolidated Appropriations Act. Over 5,000 pages in length, the legislation (referred to herein as the Economic Aid Act) included revisions and additions to the Paycheck Protection Program (PPP). The new PPP will: (1) accept PPP loan applications from eligible borrowers that did not receive a PPP loan under the earlier program (known as "First Draw Loans"); (2) permit qualifying businesses that received a PPP loan under the earlier program to receive a second PPP loan (known a...
Source: jdsupra.com