PAYCHECK PROTECTION PROGRAM RESUMES TODAY (JANUARY 11, 2021)
The successful Paycheck Protection Program resumes operations today, with some new rules and expanded eligibility. The renewed PPP was part of the major spending and COVID relief package passed by Congress at the end of last year. GLI advocated aggressively for the renewal and expansion of PPP to members of our congressional delegation and applaud the program’s restart and improvements. Three of the biggest changes to PPP is to allow businesses to receive a “second draw” from PPP funds, a simplified forgiveness process for smaller loans, and expanded eligibility to 501(c)(6) organizations.
For more information on PPP, please visit the federal SBA website.