New SBA Guidance on the PPP Changes and Second Draw PPP Loans
By EsqSocial Corporation 12/01/21
On December 27, 2020, a new COVID-19 relief bill, the Consolidated Appropriations Act, 2021, passed into law. A portion of that bill, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Economic Aid Act”), changes the Paycheck Protection Program (“PPP”), including reopening the program to new borrowers, and allows certain existing borrowers to obtain a Second Draw Loan. On January 6, 2021, the Small Business Administration (“SBA”) issued Interim Final Rules on the...
By: Downs Rachlin Martin PLLC