American Rescue Plan Act Expands PPP’s Reach

The voluminous, $1.9 trillion American Rescue Plan Act (ARPA) signed into law earlier this month, provides a couple of key modifications to the Paycheck Protection Program (PPP). As we wrote about last December, the $900 billion Economic Aid Act extended the popular PPP program, providing for additional, “second round” loans for qualifying businesses who experienced at least a 25% reduction in gross receipts in one quarter of 2020, compared to the same quarter in 2019.

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