Stimulus Bill Summary Ppp

Based on 2017 irs data 37 percent of self employed farmers would have not received a loan from the ppp because of reported net losses in the prior year.

Stimulus bill summary ppp. The bill provides more than 284 billion to the u s. 2019 also was not a good year for self employed. Financial support for businesses.

Small business association sba for first and second ppp forgivable small business loans and allocates 20 billion to provide economic injury disaster loan eidl grants to businesses in low income communities. 28 2020 at 12 58 a m. The bill creates a second ppp loan opportunity called a ppp second draw loan with a maximum loan amount of 2 million.

The ppp is just a piece of the larger stimulus bill. The deal includes a 900 billion economic stimulus package that will provide relief benefits to businesses and individuals impacted by the covid 19 pandemic. Previously under sba rules farmers participation in the ppp was based on 2019 net farm profits or losses reported on irs form schedule f profit or loss from farming.

To receive a second ppp loan eligible entities. See bkd article congress expected to pass phase 4 covid 19 stimulus bill for a summary of other stimulus details. Full coverage and live updates on the coronavirus.

A quick summary of the covid 19 stimulus legislation published by congress on december 21st 2020. Summary provided by hbma. 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.