With the recent relief package there are several changes to the Paycheck Protection Program and a second application option for businesses that have exhausted their first PPP loan. According to the U.S. Chamber, additional changes include impact eligibility for initial PPP loans, the loan forgiveness process, and the tax treatment of PPP loans.

Changes have also been made to other programs that will benefit small businesses. These include to programs such as the Economic Injury Disaster Loans (EIDL Program), the Employee Retention Tax Credit, a Venue Grant program, and SBA loan programs.

Visit the U.S. Chamber’s Guide to Small Business COVID-19 Emergency Loans here.

 

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