Page 18 - Second Draw News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Media Contact: Kate Ryan, 774.929.5223, kate@kateryanpr.com The unprecedented COVID-19 pandemic has shone light on an unexpected member of communities across the country: local banks. While large, national banks have received attention for the administration of PPP Loans, community banks have performed the same work for struggling businesses – while providing personalized customer service and support. Roger Zacharia, CEO of Ambler Savings Bank, shares “working closely with small businesses in both rounds of PPP has given me a profound respect for our area entrepreneurs. Their resilience a...

MGN ROSEBURG, Ore. (KTVZ) -- According to a recent release by the Small Business Administration, over 1.1 million Paycheck Protection Program loans were issued in 2020, worth over $100 billion in economic relief for small businesses affected by the COVID-19 pandemic. But PPP relief doesn’t necessarily end there: Previous borrowers could be eligible for a second PPP loan in 2021. With the recent reopening of the PPP with an additional $284 billion in funding, a new “Second Draw” PPP loan option is now available to qualified 2020 borrowers. “The Second Draw program is a great way for ...

Borrowers under the Small Business Administration’s (the “ SBA”) Paycheck Protection Program (“ PPP”) are required to either maintain or submit to lenders and the SBA certain documentation associated with their application for and their use of PPP loan proceeds. In addition, certain documentation is required for an appeal. The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “ Economic Aid Act” or “ PPP2 Act”) was enacted on December 27, 2020. On January 6, 2021, the SBA in consultation with the Department of Treasury (“ Treasury”) released two ...

To embed, copy and paste the code into your website or blog: The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (“Economic Aid Act”) was adopted on December 27, 2020, extending the availability of the original First Draw Paycheck Protection Program (“PPP”) Loans through March 31, 2021. It also created a new Second Draw PPP Loan program (“PPP2”) allowing prior PPP borrowers to seek a second loan.  The Economic Aid Act required the SBA to issue initial regulations within ten days of enactment to carry out the provisions of the Act and amendments to the PPP an...

Steele FAIRMONT — The coronavirus pandemic closed down Lion in the Sun from mid-March to mid-May, which is normally the tanning salon’s busiest season. Amber Steele, manager of Lion in the Sun, said the business was eventually able to reopen because the staff was able to implement safety measures, but it lost a large portion of its revenue during the shutdown. “The time we were closed was the busiest time of the year so we lost our busiest season,” Steele said. “We had to get local delegates involved to help get us reopened because we were lumped in with other busines...