Stimulus Bill Small Business Loan

Increased sba loan amounts.

Stimulus bill small business loan. The new stimulus bill ups the percentage of sba loans that the government agency guarantees which vary depending on the loan program. Some american small businesses will be able to seek a second government backed loan to help them get through the coronavirus pandemic. Congress at last passed a second stimulus bill this week as of this.

The bill provides funding for new paycheck protection program ppp loans. For example if a small business cut back half of their workforce the amount of the loan will be reduced by 50. Besides ppp there s another forgivable loan program for small businesses thanks to the new stimulus bill.

The 900 billion covid 19 stimulus bill of december 2020 improves the paycheck protection program ppp2. Provides tax deductions and other relief. Small businesses can also access larger amounts of funding through sba loans increasing the maximum you can borrow to 10 million in some cases.

Second stimulus package s relief for small businesses ppp loans. Another type of loan businesses can obtain from the sba is as an economic injury disaster loan eidl. Bureau of engraving and printing in 2017.

If you are a small business owner the covid 19 stimulus package that congress passed on monday evening december 21 2020 has some very good news. These are low interest loans up to. If employee salaries were reduced by more than 25 the loan will be reduced.

The 900 billion stimulus bill that s headed to president. Treasury secretary steven mnuchin and small business administration head jovita carranza at the u s. New stimulus bill includes second round of ppp loans for small business and forgiveness rule changes favorable to borrowers.