On Monday, President Joe Biden announced a series of changes to the Paycheck Protection Program designed to make the program more accessible to underserved borrowers, including a two-week period beginning on Wednesday (February 24, 2021) where only businesses with fewer than 20 employees can apply for loans.
Topics: ohio, workplace productivity, Management, 2020, Workplace Culture, Coronavirus, SBA Disaster, COVID-19, Loan, Paycheck Protection Program, PPP2
On January 8, 2021, the U.S. Small Business Administration (SBA) released the Borrower Application Form, SBA Form 2483, for businesses applying for a First Draw PPP Loan or requesting an increase in their First Draw PPP Loan. Existing borrowers seeking a Second Draw PPP Loan will need to submit the Second Draw Borrower Application Form, SBA Form 2483-SD.
Topics: ohio, workplace productivity, Management, Workplace Culture, Coronavirus, SBA Disaster, COVID-19, Loan, Paycheck Protection Program
On January 6, 2021, the U.S. Small Business Administration (SBA) issued the Interim Final Rule on Second Draw Loans (the IFR). The IFR announces the implementation of section 311 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act), a component of the Consolidated Appropriations Act, 2021 (the Act), which authorizes the SBA to guarantee additional loans under the Paycheck Protection Program (PPP).
Topics: ohio, workplace productivity, Management, Workplace Culture, Coronavirus, SBA Disaster, COVID-19, Loan, Paycheck Protection Program, Interim Final Rule
The Consolidated Appropriations Act, 2021 (the “Act”) was passed by Congress on December 21, 2020, and signed into law by President Donald Trump on December 27, 2020. This is the second-largest federal stimulus package approved by Congress this year following the $2 trillion CARES Act passed in March 2020.
Topics: ohio, workplace productivity, Management, 2020, Workplace Culture, Coronavirus, SBA Disaster, COVID-19, Loan, Paycheck Protection Program, PPP2