New Stimulus Package And Ppp Loan Forgiveness
Your lender should provide you a link to a form soon in the new year.
New stimulus package and ppp loan forgiveness. In addition it allows. Bureau of engraving and printing in 2017. What the new coronavirus stimulus package means for churches new law clarifies ppp loan forgiveness process and extends ppp loan program among other provisions.
Stimulus package expands ppp simplifies loan forgiveness and adds disaster grants december 23 2020 alerts by paul b. And in a nod to public concerns about ppp forgiveness if the president vice president the head of an executive department or a member of congress or their spouses receives a ppp loan. Lee on december 30 2020 posted in cares act coronavirus covid 19 paycheck protection program ppp.
If your ppp loan was for 150 000 or less there will be a new simple one page form to apply for forgiveness. January 5 2021 treasury secretary steven mnuchin and small business administration head jovita carranza at the u s. In mid december the us congress passed the consolidated appropriations act of 2021 caa or act which included another 900 billion in stimulus efforts tied to the covid 19 pandemic.
Herman share this page in its massive new. There are some changes affecting who will be eligible for this round of ppp loans but the criteria for ppp loan forgiveness and how borrowers can avail themselves to it are pretty similar to the. Besides ppp there s another forgivable loan program for small businesses thanks to the new stimulus bill by gene marks for the inquirer posted.
The new ppp aid which congress approved last month as part of its 900 billion covid stimulus program will provide forgivable loans of up to 10 million for pandemic wracked small and medium. If you haven t received ppp loan forgiveness you can reapply modify increase your ppp loan amount previous ppp loan borrowers who returned all or part of their ppp loan may reapply for the maximum amount applicable under the new terms so long that they have not yet received forgiveness.