Legal and Regulatory

Paycheck Protection Program Relaunched

The U.S. Small Business Administration, in consultation with the Treasury Department, reopened the Paycheck Protection Program beginning the week of January 11 for new borrowers and certain existing PPP borrowers.
By Peter Comstock
January 13, 2021
Topics
Legal and Regulatory

Following the passage and signing into law of the most recent COVID-19 relief legislative package, the U.S. Small Business Administration reopened the Paycheck Protection Program (PPP) earlier this week. The SBA has focused lending this week on underserved communities, providing them exclusive access for the first two days of the relaunched program, and the program is expected to open widely to all lenders on January 19, according to the SBA.

The SBA also released information stating that it “has so far received 1,346,125 PPP loan forgiveness applications for approximately $170.5 billion,” forgiving over $100 billion, and further stating that “for the smallest borrowers with loans up to $50,000, 88% have been approved for forgiveness.”

The SBA released new applications for the program, and the most up-to-date guidance is below. Businesses can start applying for second PPP loans now if they go through certain lenders, including community development financial institutions and minority depository institutions.

Updated First Draw Forms

Second Draw Forms

Guidance & Resources

For more information and updates, visit SBA.gov/PPP or Treasury.gov/CARES.

by Peter Comstock

Related stories

Legal and Regulatory
Final Build America, Buy America Act Guidance Released
By P. Lee Smith and Greggory C. Maddaleni
This new guidance tightens U.S. content requirements for federally funded infrastructure projects, expands the definition of infrastructure and provides calculation methodologies for manufactured products.
Legal and Regulatory
A Look at Trending Legislative Changes Impacting Workers' Comp
By Rosanna Shamash
Could three recently enacted changes in New York State affect workers' compensation cases across the country for the construction industry?
Legal and Regulatory
How to Get the Most Bang for Your Buck Out of the Infrastructure Bill
By Rich Meene
The Infrastructure Investment and Jobs Act authorizes $550 billion in new funding for infrastructure projects. Here's how to position your company for success when pursuing these opportunities.

Follow us




Subscribe to Our Newsletter

Stay in the know with the latest industry news, technology and our weekly features. Get early access to any CE events and webinars.