Paycheck Protection Program 2.0: Second Draw Loans and Other Updates
On December 27, 2020, the Economic Aid to Hard-Hit Small Business, Nonprofits and Venues Act (the “Act”) became law. The Act included $284 billion of additional funding under the Paycheck Protection Program (the “PPP”). The U.S. Small Business Administration and the Department of Treasury subsequently released interim final rules under the Act (here and here).
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