Stimulus Loan For Small Business

In addition to more paycheck protection program funds available congress passed tax relief for small businesses.

Stimulus loan for small business. The other good news is that the new bill offers a second ppp loan for companies with fewer than 300 employees who suffered a 25 drop in any quarter s revenue from 2019 to 2020. Fortunately it contains some help for small business owners and the self employed. Demand for the popular paycheck protection program ppp has been massive since the application window opened on april 3.

Here s everything you need to know about how. This period is eight weeks chosen by the small business owner and the lending agency between february 15 2020 and june 30 2020. The small business administration issued new guidance tuesday on how firms with fewer than 500 employees can secure fully forgivable federal loans.

What you should do. If you are a small business owner the covid 19 stimulus package that congress passed on monday evening december 21 2020 has some very good news. There is welcome relief for small businesses.

In march congress passed the 2 trillion dollar coronavirus aid relief and economic security cares act a stimulus package that includes several programs aimed at small businesses impacted by the covid 19 outbreak. Signed into law by president trump on friday the package authorizes the small business administration to offer 100 guarantees for up to 349 billion in loans for small businesses that need to. Below are details of small business provisions of the new stimulus package and as importantly.