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Paycheck Protection Program Loans: New Law Expands and Extends Program, Impacts Forgiveness

  • COVID-19
  • Guide
  • Last Updated: 03/10/2021
ppp loan forgiveness guide preview image
ppp loan forgiveness guide preview image
ppp loan forgiveness guide preview image
ppp loan forgiveness guide preview image
ppp loan forgiveness guide preview image
ppp loan forgiveness guide preview image

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The Consolidated Appropriations Act, 2021 expanded and extended the Paycheck Protection Program (PPP) and its benefits. The program’s goal remains the same: help employers retain/pay employees or bring back those let go, provide funds to assist with covered operating costs and make loans forgivable on eligible costs in the coverage period.

Hardest-hit and smaller businesses could even take out a second-draw PPP loan and claim the Employee Retention Tax Credit, while access to alternative funding also is available.

In this guide, we give you information on:

  • What's changed with PPP including the availability of second draw PPP loans and expansion of covered costs
  • Loan forgiveness eligibility