Stimulus Update For Ppp

Ppp set aside for certain small businesses.

Stimulus update for ppp. Under this section eligible borrowers must 1 employ not more than 300 employees. Second ppp loan available for the hardest hit small. Changes made to the economic stimulus paycheck protection program loans could make it easier to commit fraud.

The following summarizes the paycheck protection program ppp 2 provisions of the new stimulus law. Unpacking ppp updates from the latest stimulus bill. The consolidated appropriations act 2021 the act was passed by congress on december 21 and includes some significant changes to the paycheck protection program ppp.

2 have used or will use the full amount of their first ppp. Ppp and stimulus update consolidated appropriations act 2021 part 2 as noted in our prior update the u s. The act not only provides for a second draw for certain.

Sign up here as i will continue to update information as i get it. 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. And 3 demonstrate at least a 25 reduction in gross receipts in the.

An additional 300b in funds to the u s. Congress has approved the latest round of stimulus to help american businesses and individuals. Latest covid related stimulus package includes revised ppp loan.

Justin elanjian cpa reading time. There s a new round of scams too. December 29 2020 the consolidated appropriations act of 2021 has been signed into law by the president.