Applying for Second Draw PPP Loan
Thursday, January 14, 2021 On January 6, 2021, the Small Business Administration (SBA) published an Interim Final Rule (IFR) announcing the implementation of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Ventures Act’s (Economic Aid Act) temporary loan program, the Paycheck Protection Program (PPP) Second Draw Loans. Key provisions of the PPP Second Draw Loan program are summarized below. Eligibility for Second Draw PPP Loans Eligible Borrowers Eligible borrowers include businesses, nonprofit organizations that are eligible for First Draw PPP Loans under the Eco...
Source: natlawreview.com