Stimulus Package Ppp Application

New funding new rules simplified application.

Stimulus package ppp application. Learn more plus get free reputation monitoring and customer insights when you sign up for womply free. Ppp 2021 284b stimulus package. By li zhou updated apr 24 2020 12.

Share this information with other small business owners and the self employed so they can be prepared as soon as the applications. Blasnik cpa cgma partner. Authorized as part of the coronavirus stimulus package passed in december the ppp has been extensively revised from its original form.

On december 27 2020 president trump signed into law a 908 billion relief package. The new stimulus package also clears up the controversial issue of ppp deductibility and taxation. Applications will initially be limited to smaller.

Small business administration sba with an additional 284 billion for ppp loans 20 billion for economic injury disaster loan eidl grants and 11 billion to the u. In this 4 minute read. You must use 60 of your second draw loan on payroll expenses to qualify for loan forgiveness.

The bill which runs over 5 000 pages expands the paycheck protection program ppp which was originally established when the cares act was enacted earlier this year the stimulus bill allocates 284 billion for new ppp loans. The recently introduced and much anticipated stimulus bill titled the consolidated appropriations act 2021 the act has been passed by the senate and the house of representatives and is now awaiting signature from the president. What s in the stimulus package for small businesses ppp.

As well as repeat applications by second draw. How small businesses can get money from the stimulus package here s how to access the 370 billion in loans and grants that the new stimulus bill provides. The legislation includes a very favorable update to the paycheck protection program ppp for farmers and ranchers and also provides the u s.