SBA AND TREASURY ANNOUNCE PPP RE- OPENING; ISSUE NEW GUIDANCE

摘要

The Paycheck Protection Program (PPP) reopened the week of January 11, 2021 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions were able to make First Draw PPP Loans on January 11 and Second Draw PPP Loans on January 13. The PPP opened to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.