Stimulus Deal Includes New Round Of Ppp

Stimulus deal includes new round of ppp tax relief for small businesses.

Stimulus deal includes new round of ppp. That includes a new round of ppp loans. Congress at last passed a second stimulus bill this week as of this writing it is still awaiting president trump s signature and it includes a second round of ppp loans for affected small. Included in the package is 284 billion for a second round of the paycheck protection program ppp 15 billion is set aside for live venues independent movie theaters and cultural institutions as well as an additional 20 billion for the economic injury disaster loan program.

Congress has hammered out a new covid 19 stimulus package that includes a new round of paycheck protection program loans tax relief and other measures for. Gilitz received by not expanding section 108 to include ppp loans. Moderate income areas were often shut out of the first round of ppp funding this bill includes set asides for small.

The four most active lenders in the paycheck protection program jpmorgan chase. It was set at 2 5 times a company s average monthly payroll under the first round of ppp passed in the 2 trillion cares act relief measure in late march. To be eligible for a second ppp loan recipients would be required to demonstrate a 25 percent reduction in gross receipts in any quarter of 2020 compared to the same quarter in 2019.

On december 20 congress reached a deal on a new stimulus package the package. The stimulus package being negotiated in washington includes 285 billion for a renewed paycheck protection program. There s a new.

New round of ppp forgivable loans. In this new act congress is purposefully choosing to give ppp borrowers the same tax break that mr. The measure includes 284 billion for another round of ppp which would be extended through march for first and second loans for small businesses and nonprofits.