Stimulus Package And Ppp
Special to usa today.
Stimulus package and ppp. In this 4 minute read. Additional eligible expenses allowed under ppp funding. What s in the stimulus package for small businesses ppp loans and cultural grants.
200 million in relief payments to timber harvesting and hauling businesses. The bill also added a simplified one page forgiveness application for loans of 150 000 or less. Late on december 21 2020 congress passed its latest stimulus package.
Congress took its time and president donald trump held it up. 284 billion of new ppp funding for 2021. Ppp 2021 284b stimulus package.
In its massive new pandemic relief and stimulus package congress has significantly modified the paycheck protection program ppp to allow for second draws from the program to simplify the loan forgiveness process to provide restaurants access to greater relief and to extend the program through march 2021. Stimulus package expands ppp simplifies loan forgiveness and adds disaster grants. The ppp provides for forgivable loans small businesses may use to pay their employees during the covid 19 crisis.
The new stimulus aims at better distribution of ppp loans. Employee retention credit is explained in details in this separate article. In its massive new pandemic relief and stimulus package congress has significantly modified the paycheck.
Simplified 1 page application for loans under 150k. Stimulus aid for farmers ranchers second chance for ppp loans eidl grants 3. As part of the federal stimulus package the employee retention credit erc is extended to july 1 2021.