PAYCHECK PROTECTION PROGRAM ROUND 2 OPENS TODAY!

PAYCHECK PROTECTION PROGRAM ROUND 2 OPENS TODAY!
PAYCHECK PROTECTION PROGRAM ROUND 2 OPENS TODAY!
Monday, January 11, 2021
PAYCHECK PROTECTION PROGRAM ROUND 2 OPENS TODAY!
Accessing the Next Round of Funding Guidelines:
The U.S. Small Business Administration (SBA) https://www.sba.gov/, in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially, only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP will open 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.
This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.
For additional info check out the webinar that explained everything you need to know about the PPP Round 2 from last week at the link below:
Sign up for updates on PPP Round 2 and submit all questions at the link below:
Please feel free to call the , where Small Business Advocates and Compliance Advisors can share the latest guidelines and regulations.
To reach the hotline, dial 888-SBS-4NYC or 888-727-4692.
 
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