Paycheck Protection Program (PPP) Update
The U.S. Congress is set to approve a new economic stimulus bill today, including a new round of PPP lending. The new round of PPP will be available to businesses with 300 or less employees who can demonstrate a 25% loss in any quarter of 2020 compared to 2019. The new process also includes a simplified forgiveness application process for loans under $150,000.
To read a full summary of the renewed Paycheck Protection Program: