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The Consolidated Appropriations Act, 2021: Round 2 of the Paycheck Protection Program | Lowndes

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After days of uncertainty, the Consolidated Appropriations Act, 2021 (the “Act”) was passed by Congress on December 21, 2020, and signed into law by President Donald Trump on December 27, 2020. This is the second-largest federal stimulus package approved by Congress this year following the $2 trillion CARES Act passed in March 2020.
This new $900 billion COVID relief package includes $284 billion in aid for small businesses through a second round of Paycheck Protection Program (PPP) forgivable loans. The new round of PPP loans (“PPP2”) includes the following relief in addition to new PPP loans for first-time borrowers: ....

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Economic Aid To Hard-Hit Small Businesses, Nonprofits, And Venues Act | Lowenstein Sandler LLP

Contributing authors: Diana Kim, Kaitlyn M. Baietto
Certain provisions of the Coronavirus/COVID-19 economic stimulus legislation are subject to the issuance of government regulations and other government action; thus, certain details regarding the legislation may be clarified or added.
On December 27, 2020, a new relief bill was passed into law intended to provide much-needed economic support to assist businesses in making it through this winter. The bill, known as the “Consolidated Appropriations Act, 2021” (Act), allocates over $284 billion in funding to the Small Business Administration (SBA)‒Business Loans Program Account, which covers several relief programs. One of the programs is the Paycheck Protection Program (PPP), which was first introduced under the CARES Act ....

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