COVID-19 Relief Bill Creates Second Paycheck Protection Program
By EsqSocial Corporation 06/01/21
On December 28, 2020, President Trump signed the Consolidated Appropriations Act. Over 5,000 pages in length, the Act included revisions and additions to the Paycheck Protection Program (PPP). The new PPP will (1) accept applications from eligible borrowers that did not receive a PPP loan under the earlier program; (2) permit qualifying businesses that received a PPP loan under the earlier program to receive a second PPP loan—known as a second draw loan; (3) allow existing PPP borrowers who are...
By: Hinshaw & Culbertson LLP