An additional stimulus expenses detailed with $285 mil inside financing allocated towards Salary Defense Program (PPP), has come passed by Congress and you can technically closed on the laws by the Chairman. The balance, known as the Consolidated Appropriations Act, 2021 comes with changes in order to PPP mortgage qualification and you can forgiveness.
PPP money would-be available to first- and you can 2nd-date individuals who meet the eligibility conditions set forth regarding statement. Small businesses, non-profits, and you may independent builders are eligible to apply. While doing so, the very first time as the start of system, 501(c)(6) nonprofits, together with appeal revenue organizations, local push, and tv and you may broadcast broadcasters are now entitled to implement.
Even if you currently obtained a great PPP financing for the very first stimulus expenses, youre entitled to bring an extra mortgage to suit your needs
For individuals who currently got an excellent PPP loan for the basic stimuli statement, you have got to meet with the following the standards as another-go out PPP debtor so you can safer some other mortgage for your business:
