PPP Reboot: What New and Existing Borrowers Need to Know About the Stimulus Package

January 19, 2021
Fox Rothschild LLP

The COVID-19 relief and economic stimulus package recently signed into law provides a new round of Paycheck Protection Program (PPP) loan funding. With the new package comes new criteria for eligibility, as well as a new form of aid for small firms.

Join Paul Edelberg, Chris Pippett and Gabe Herman for an overview of the changes to expect with the Paycheck Protection Program’s restart. The discussion will cover:

  • Availability of a second draw PPP loan to companies that previously took out a PPP loan
  • New categories for authorized uses of loan proceeds
  • The simplified loan forgiveness application process
  • The deductibility of PPP-authorized expenses
  • Discussion of who is eligible for a first and second draw PPP loan
  • Update on the Economic Injury Disaster Loan program
  • Other provisions of the law, including SBA debt relief payments, grants for venue operators and enhancement of SBA lending programs