Navigating Second Draw PPP Loans | Orrick, Herrington & Sutcliffe LLP
To embed, copy and paste the code into your website or blog: On December 27, 2020 the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act) was signed into law, which reopened the Paycheck Protection Program (PPP) both to first-time borrowers and, subject to stricter conditions and limits, to borrowers that previously received a PPP loan (second draw borrowers). [1] Under the Economic Aid Act, the last day to apply for and receive a loan under the reopened PPP is March 31, 2021. The Small Business Administration (SBA) and the Department of the Treasury (...
Source: jdsupra.com