New Stimulus Bill Ppp Details

The bill includes 284 billion for first and second forgivable loans from the paycheck protection program ppp which is intended to aid small businesses.

New stimulus bill ppp details. Creates a simplified forgiveness application process for loans of 150 000 or less. Utc president trump on sunday night signed a 900 billion stimulus bill into law avoiding a government shutdown after he demanded changes to the sprawling package and. For a new ppp forgivable.

The fcs made 14 115 loans totaling 1 2 billion out of the 129 258 loans totaling 7 6 billion of ppp loans made to the agricultural sector. Below are details of small business provisions of the new stimulus package and as importantly. Eligible families will receive an additional.

The new legislation eases the fcs capital requirements for ppp lending consistent with relief provided to community banks. It also expanded ppp eligibility for. The package sends direct stimulus payments of 600 to individuals half the amount provided in the first round of checks which went out in the spring.

What you should do immediately to take advantage of these programs. Ppp borrowers with naics codes starting with 72 hotels and restaurants can get up to 3 5 times their average monthly payroll costs again subject to a 2 million maximum.