Translations from Your Trusted Advisor.
Don’t miss out! The second round of Paycheck Protection Program (PPP) funding for small businesses impacted by COVID-19 will be open to more organizations tomorrow – January 15, 2021. The US Small Business Administration and Treasury announced jointly that the application window for Paycheck Protection Program (PPP) forgivable loans will open tomorrow for lenders with $1 billion or less in assets. The opening is scheduled to start at 9AM for both first- and second-draw PPP loans. Additionally, the program will begin accepting applications for first- and second-draw loans from large lenders on Tuesday, January 19, 2021.
For more details on this announcement, see the Journal of Accountancy article, PPP application dates announced, which, in addition to outlining dates when funding is schedule to commence, also outlines a brief summary of qualification criteria. As always, make sure to follow us on LinkedIn to stay up-to-date on the latest news and check out our blog for a variety of helpful, tax-related topics.
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