PPP is back in 2021. Here are the details on getting a second small business loan

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Photo by Kaique Rocha from Pexels

As we enter 2021, the U.S. still facing an economic recession and massive unemployment as a result of the continuing COVID-19 pandemic. That means relief packages we were introduced to in 2020 will continue, too.

That includes one program that was widely used: The U.S. Small Business Administration (SBA) said Friday that it will reopen the Paycheck Protection Program (PPP) on Monday, Jan. 11, for businesses to apply for a second draw. That means businesses that got a loan last year can get a second draw in 2021.

This comes a couple of weeks after Congress passed a new $900 billion relief bill that included $284 billion to restart PPP. It included some new provisions, and that’s reflected in the rollout.

Read more at Technical.ly



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