Towards the , previous President Trump closed the newest Consolidated Appropriations Operate. Over 5,000 users in total, the fresh Work incorporated posts and you will additions to the Paycheck Coverage Program (PPP).

The fresh new PPP usually: (1) accept apps from eligible individuals for PPP money one to didn’t receive an effective PPP mortgage beneath the prior to program-labeled as a “Very first Mark Financing”; (2) allow being qualified firms that received an effective PPP mortgage beneath the prior to system to receive an additional PPP financing-labeled as an excellent “2nd Draw Loan”; (3) make it present PPP individuals perhaps not eligible for the next Draw Financing to spend one remaining PPP money on permitted costs, including even more forgivable expenses; and (4) changes PPP statutes for present PPP borrowers, new PPP individuals, and you can Next Mark Financing individuals in the regions of eligibility, forgivable expenses, and you will financing forgiveness. Read more