US Paycheck Protection Program 2021 – All you need to know!
US Paycheck Protection Program 2021 – Round 2 Here’s all what you need to know! On December 21, 2020, the US Congress passed a new and additional Paycheck Protection Program (PPP) relief package – PPP-2 – for US$ 900 Billion for aiding Small businesses and individuals impacted by Covid-19 and who couldn’t apply during round 1 of the PPP or still continue to have a business that’s impacted by the pandemic. Thus, PPP-2 loans will be made available to both first-time qualified borrowers as well as to those borrowers who previously received a PPP loan earlier in 2020. So let’s understand briefly all what you need to know: - You are eligible to apply for your first PPP loan in 2021 even if you didn’t apply for it in 2020 earlier. - Even if you received a PPP loan in 2020, you are eligible to apply a second time provided certain criteria check out. - Finally, whether it’s your first or second PPP loan, these loans will have the same terms as the origina