Small Business Can Start Applying For New PPP Loans

SMALL BUSINESSES CAN START APPLYING FOR NEW PPP LOANS ON MONDAY IN THE THIRD ROUND OF PPP LENDING.

(CNN) – Small businesses can start applying for new Paycheck Protection Program loans on Monday.

The latest COVID relief package includes $284 billion for additional lending to eligible businesses.

This third round of lending is different in a number of ways:

Businesses can now get a second PPP loan.

Targeted funds are available for the most vulnerable businesses, restaurants can get bigger loans, there’s greater flexibility in how the loan may be used, and still be fully forgiven.

The forgiveness process is simpler and the tax break for loan recipients is bigger.

Categories: US News