PPP Loans Are Back -- Here's What Small Businesses Need to Know
After months of haggling, lawmakers have finally settled on a second coronavirus relief bill that was signed into law in late December. Notably, that bill includes a second set of direct stimulus payments, boosted unemployment benefits, and a much needed follow-up round of Paycheck Protection Program (PPP) loans for small businesses.
What makes PPP loans so valuable is that they're eligible for 100% forgiveness, provided the bulk of those funds are used to cover qualified payroll expenses. Given the way so many local businesses have been struggling, more PPP funding could spare many establishments from shedding jobs and permanently closing their doors. This especially applies in hard-hit industries, like restaurants and retail.
If you're a small business, here's what you need to know about applying for a second PPP loan.
Source Fool.com
