Paycheck Protection Program Act Update: Consolidated Appropriations Act, 2021
By EsqSocial Corporation 06/01/21
The Consolidated Appropriations Act, 2021 (the “Act”), which was signed into law on December 27, 2020, includes several updates to the Paycheck Protection Program (the “PPP”) originally established by the Coronavirus Aid, Relief, and Economic Security Act (as modified by the Paycheck Protection Program Flexibility Act of 2020, the “CARES Act”). The Act appropriates $284,450,000,000 for PPP loans (including second draw PPP loans for prior recipients, as described below), allows for certain prior...
By: Patterson Belknap Webb & Tyler LLP