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SBA reviving Paycheck Protection Program for small businesses Millions of business owners are about to get additional help weathering the coronavirus outbreak. Posted: Jan 8, 2021 9:36 AM Updated: Jan 8, 2021 10:57 AM Posted By: Associated Press NEW YORK (AP) - Millions of business owners are about to get additional help weathering the coronavirus outbreak. The program will re-open the week of Jan. 11. The Small Business Administration and the Treasury Department are reviving the Paycheck Protection Program five months after its first two rounds of funding ended. Businesses that received lo...

Fri, 01/08/2021 - 2:00pm -- tim Vermont Business Magazine The US Small Business Administration, in consultation with the Treasury Department, announced today that the Paycheck Protection Program will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13.  The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to ...

To embed, copy and paste the code into your website or blog: On December 27, 2020, President Trump signed the 2021 Consolidated Appropriations Act, which also contained the latest stimulus relief bill. Part of that bill was the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venue Act, which made changes to all Paycheck Protection Program (PPP) loans, re-opened the PPP program for new loans, and allowed certain borrowers to obtain a second PPP loan. Ability to Apply for a Second PPP Loan. While the CARES Act originally limited eligible small businesses to one PPP loan, Section 311 o...

In the waning days of 2020 (Sunday, December 27, to be exact), President Trump signed HR 133, the  Consolidated Appropriations Act, 2021, a combination COVID-19 stimulus/relief and omnibus government funding bill passed by the House and Senate on December 21, 2020. The Act provides approximately $900 billion to bolster the U.S. economy amid the continued spread of COVID-19. In addition to individual “2020 Recovery Rebates” (refundable tax credits) in the amounts of $600 per taxpayer and $600 per qualifying child, several employer-related tax provisions were included in the Act. A summary...

Tuesday, January 5, 2021 On Sunday, December 27, 2020, President Donald Trump signed the Consolidated Appropriations Act, 2021 (the “Act”). The Act combines a $1.4 trillion omnibus appropriations bill for the Federal Government for Fiscal Year 2021 and $900 billion of relief in response to the SARS-CoV-2 (“COVID-19”) pandemic. The Act extends several critical CARES Act programs that had been due to expire on December 31, 2020, including the Paycheck Protection Program (the “PPP”) and unemployment assistance. It also clarifies rules and procedures developed by the various...