Page 16 - Second Draw News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Feb 11, 2021 Lyons Gate Group owner Jose Williams received a $16,000 Paycheck Protection Program loan last year and has applied again under the current round of PPP funding.There’s federal money up for grabs again for pandemic-hit owner-operators and small fleets, with about seven weeks left to apply. The process for effectively turning a Paycheck Protection Program loan into a grant has been simplified since the first time it was offered, and in other ways the program is less restrictive than in PPP’s first round. One drawback, however, is a hurdle for businesses looking to get a secon...

The Fairness for Craft Beverage Producers Act corrects what U.S. Rep. Jason Crow’s office described as an “oversight” that made craft breweries ineligible for the maximum loan amount and also

Five-year maturity All guidance issued in connection with First Draw Loans applies to Second Draw Loans, except as specified in the new guidance applicable to Second Draw Loans. SBA Guaranty As with First Draw Loans, Second Draw Loans are subject to an SBA guaranty of 100% of Second Draw Loans. As a result, a lender who makes Second Draw Loan will not bear the financial risk of non-payment, as long as the lender complies with its obligations under the program. Eligibility Eligibility for Second Draw Loans is much more limited than for First Draw Loans. To be eligible an applicant must be a bu...

For the last seven months, the U.S. Small Business Association (“SBA”) and U.S. Treasury Department have administered one of the Federal government’s widely supported COVID-19 response...

CAA”), which provides $900 billion in new COVID-19 relief funding, was signed into law on December 27, 2020.  Section 324 of Title III of the CAA, the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (the “ Economic Aid Act”), introduces a new $15 billion grant program through which the U.S. Small Business Administration (the “ SBA”) will provide aid to struggling live venue operators and certain related businesses.  This program offers a critical lifeline from the Federal government for the nation’s performing arts venues, movie theatres and museums.  Grant...