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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 will or has used the full amount only for authorized uses Has no more than 300 employees; and Can demo...

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.

[1] with respect to the Paycheck Protection Program ( Economic Aid  Act)) of Division N of the Consolidated Appropriations Act, 2021.  The PPP was originally enacted under the Coronavirus Aid, Relief, and Economic Security Act (as amended, supplemented or otherwise modified from time to time prior to the enactment of the Economic Aid Act, including by the Paycheck Protection Program and Health Care Enhancement Act, the Paycheck Protection Program Flexibility Act, applicable federal regulations and interpretive guidance issued by the SBA and Treasury, the  CARES Act). First Draw PPP Lo...

After re-opening the Paycheck Protection Program to small lenders on Friday, the U.S. Small Business Administration is now opening the program to all lenders.