New PPP Loan Eligibility, Requirements & Upcoming Deadlines under the Most Recent Federal Stimulus PackageOn April 2, 2021 by Schnader in News
Jordan Mark Kelso and Jonathan W. Hugg published a client alert, “New PPP Loan Eligibility, Requirements and Upcoming Deadlines under the Most Recent Federal Stimulus Package.”
The most recent federal emergency legislation expands eligibility for small business loans, and provides a deadline extension to May 31, 2021, giving small businesses time to take action.
It is crucial for business owners to stay up to date regarding their rights and potential benefits under the seemingly endless deluge of laws responding to the last year of economic turmoil. One recently updated initiative is the federal Paycheck Protection Program (“PPP”). The PPP features a loan, backed by the U.S. Small Business Administration (“SBA”), intended to incentivize small businesses to keep their employees on payroll despite business hardship.
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