Emerging Markets Law

Showing 2 posts from March 2021.

American Rescue Plan Adds $7.25B in Paycheck Protection Program Funding

Coronavirus

After being the focus of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (EAA) of the Consolidated Appropriation Act of 2021 (CAA), the Paycheck Protection Program (PPP) is only a small part of the American Rescue Plan (ARP) that the president signed on March 11. The ARP adds $7.25 billion in additional funding to PPP but does not extend the PPP's current application period or deadline of March 31, 2021. 

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Updated PPP FAQs – Second Draw PPP Loans

Coronavirus

On March 3, 2021, the U.S. Treasury Department in conjunction with the Small Business Administration (SBA) posted an updated set of “frequently asked questions” (FAQs) concerning the Paycheck Protection Program (PPP). These FAQs are tied to the changes and continuation of the PPP loan program enacted under the Consolidated Appropriations Act, 2021 (CAA). The updated FAQs reflect changes or clarifications made to existing FAQs mainly to assist Second Draw PPP borrowers. Below is a summary of certain FAQs. A full copy of the FAQs can be found here.

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