Latest Paycheck Protection Program Developments
SBA Warns PPP Money Likely to Run Out Before Extended Deadline for Small Businesses
April 6, 2021 — The Small Business Association (SBA) and advocacy groups have warned that PPP funds are likely to run out long before the extended May 31 deadline to apply.
Biden Extends PPP for Small Business Through May 31
March 31, 2021 — President Joe Biden signed the Paycheck Protection Program (PPP) extension into law on March 30, extending federal aid for small businesses through May 31.
Biden Administration Announces Changes to PPP to Help Small and Minority-owned Businesses
Feb. 22, 2021 — The Biden administration on Monday, Feb. 22 announced changes to the payroll protection program with the goal of helping small and minority owned firms as well as sole proprietors.
SBA Reopens PPP to Small Lenders on Friday, Jan. 15
Jan. 14, 2021 — PPP loan portal reopens to lenders with $1B or less in assets for First & Second Draw applications on Jan. 15, fully opens on Jan. 19.
SBA and Treasury Announce Reopening of PPP and Provide Application Forms
Jan. 11, 2021 — PPP re-opens for new borrowers and certain existing borrowers.
Paycheck Protection Program Timeline
Webinars & Self-Study
Quick FAQs: PPP Loans & Forgiveness
PPP Loan FAQs
- What are PPP Loans?
- What are the requirements and rules?
- What is a First Draw Loan?
- What is a Second Draw Loan?
Continuation of PPP (Dec. 2020 Legislation) FAQs
- What relief is included in the Consolidated Appropriations Act, 2021?
- Where can I find a summary of the economic aid for hard-hit businesses?
- Are there changes to PPP in the year-end legislation?
- Are there provisions directly benefitting the restaurant industry?
- What expenses are allowable & forgivable uses for PPP funds?
PPP Loan Forgiveness FAQs