Coronavirus Deal Would Give Small Businesses a Shot at Second PPP Loan
But the biggest change would reopen the program to some businesses that had already received help. When the Paycheck Protection Program expired in August, about $138 billion had not been spent. Many business owners who had received money said they would gladly take another loan, but the program’s rules prevented them from getting a second helping. The new relief bill offers a second cash infusion for those who meet stricter terms: Borrowers with fewer than 300 employees that had a 25 percent drop in sales from a year earlier in at least one quarter could qualify for an additional loan of up...
Source: nytimes.com