COVID-19 Relief Law - Congress Considers Second PPP Loan
Congress, after the relative success of the initial Payroll Protection Program ("PPP"), is considering replenishing the program for a second wave of loans.
The legislation, called the Prioritized Paycheck Protection Program (P4) Act, would allow businesses with fewer than 100 employees to apply for a second loan if they have used up (or are on pace to exhaust) their first PPP loan and can show a 50% loss in revenue due to the COVID-19 pandemic. Business owners also must show they need the money for payroll and eligible non-payroll costs.
Certain small-business owners may be able to apply for a second Paycheck Protection Program loan if a new bill introduced on June 18 becomes law.
Post a comment
Post a Comment to "COVID-19 Relief Law - Congress Considers Second PPP Loan"To reply to this message, enter your reply in the box labeled "Message", hit "Post Message."