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While the PPP is the best-known pandemic aid program for businesses, there are a number of other state and federal programs that have provided much needed relief to businesses. For
To embed, copy and paste the code into your website or blog: Unpacking the Economic Aid Act and American Rescue Plan Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans On January 6, 2021, the Small Business Administration (the “ SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Program as Amended by Economic Aid Act” (sometimes referred to as the “ Consolidated First Draw PPP IFR” or the “ IFR”). That rule restates existing re...
On January 6, 2021, the Small Business Administration (the “ SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“ Second Draw Rules”). These rules announced the implementation of section 311 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “ Economic Aid Act”). The SBA also released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Program as Amended by Economic Aid Act” (“ Consolidated First D...
NH Business Review Sen. Hassan explains the federal programs, resources available May 3, 2021 U.S. Sen. Maggie Hassan, D-NH Throughout the Covid-19 pandemic, New Hampshire’s small businesses have continued to shine. Showing the ingenuity and entrepreneurship that is their hallmark, businesses have done all that they can to adapt, support their employees, and continue serving their customers and communities. Even so, many businesses, understandably, still require support to stay afloat. As this crisis has evolved, so have the challenges facing businesses. To help address those needs, I have ...
President Biden signed into law the American Rescue Plan Act of 2021 (ARP Act) on March 11, 2021. The $1.9 trillion economic recovery package revised the Paycheck Protection Program...