Paycheck Protection Program – Part 2: New Money and New Rules | Dechert LLP
The Economic Aid to Hard-Hit Small Business, Nonprofits and Venues Act (the “ Act”) was signed into law on December 27, 2020, as part of the Consolidated Appropriations Act, 2021. The Act’s goal is to extend the term of certain economic relief programs created under the Coronavirus Aid, Relief, and Economic Security Act (Pub. L. 116–136) (the “ CARES Act”), including, extending the Paycheck Protection Program (“ PPP”) program. The key updates to the PPP program implemented by the Act are outlined below. Additional PPP Funds Available. Additional Funding”). The new applic...
Source: jdsupra.com