Stimulus Update For Small Businesses

For businesses the new stimulus bill includes significant updates to the paycheck protection program ppp changes to how ppp loans are taxed tax credit eligibility changes the ability to receive grants and more.

Stimulus update for small businesses. The 908 billion proposal includes 288 billion in small business aid such as more paycheck protection program loans and 180 billion for supplemental unemployment insurance according to a draft. Because the smallest businesses and those located in low and moderate income areas were often shut out of the first round of ppp funding this bill includes set asides for small businesses with. It s a giant last minute bill some 5 593 pdf pages long but fortunately you don t have to read the whole thing.

The proposed 908 billion stimulus includes measures to aid the unemployed small businesses and state and local governments. This week congress passed a 900 billion stimulus bill to assist individuals and small businesses that continue to be impacted by the covid 19 pandemic.