Emily A. Blomstedt402.978.5289
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The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) will re-open the week of January 11th. In order to assist smaller borrowers who may have difficulties accessing the financial system, initially only community development financial institutions, minority depository institutions, certified development corporations, and microloan intermediaries will be able to make First Draw PPP Loans on Monday, January 11th, and Second Draw PPP Loans on Wednesday, January 13th.. We outlined details of the new PPP HERE as set forth in the Consolidated Appropriations Act, 2021. In addition, the SBA issued a Notice and two new Interim Final Rules on Wednesday, January 6th.
A printable version of this information can be found by clicking HERE.
This article has been prepared for general information purposes and (1) does not create or constitute an attorney-client relationship, (2) is not intended as a solicitation, (3) is not intended to convey or constitute legal advice, and (4) is not a substitute for obtaining legal advice from a qualified attorney. Always seek professional counsel prior to taking action.