Second Stimulus Package Small Business Loan

The second draw loans would also have new requirements cnbc reported including being limited to businesses with 300 employees or fewer and at least 50 less gross revenues.

Second stimulus package small business loan. The house of representatives passed the latest economic stimulus package that was passed earlier in the week by the u s. A second coronavirus stimulus package passed on december 21 and it isn t quite as generous as the first. But these are available only for businesses with.

The 900 billion stimulus bill that s headed to president. What s in the stimulus package for small businesses. Some american small businesses will be able to seek a second government backed loan to help them get through the coronavirus pandemic.

This can be your first or second ppp loan. The second stimulus bill the economic aid to hard hit small businesses nonprofits and venues act has been passed by congress and signed into law by president trump. Businesses that already got a paycheck protection program ppp loan will likely have access to more funds and some might be eligible for another loan.

The stimulus bill also authorizes a second round of loans for businesses that have already obtained a ppp loan. For starters if you want to apply for either a new or second ppp loan through a small business administration approved lender there s now an additional 284 billion available on top of the 510 billion handed out under the cares act. Fewer than 300 employees and at least a 25 drop in gross receipts in any 2020 calendar quarter compared to the same quarter in 2019.

Federal lawmakers have agreed to revive the signature small business relief effort established last spring committing 285 billion for additional loans under the paycheck protection program and. Below are details of small business provisions of the new stimulus package and as importantly.