Among the things from 2020 that are continuing into 2021: the Paycheck Protection Program.
Congress passed a new round of relief funding in December, including $284 billion for the U.S Small Business Administration (SBA) program, which is designed to serve as a bridge to keep employees on payroll and other expenses covered during the economic slowdown caused by COVID-19.
With the latest reopening of PPP, businesses that received one of the program’s forgivable loans last year can apply for a second loan. To be eligible for this second round, those businesses must have fewer than 300 employees, and show a 25% decline in gross receipts between comparable quarters in 2019 and 2020. (Requirements vary for first-round draws.)
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