Good evening: The Small Business Administration released three documents concerning the Paycheck Protection Program (“PPP”). Summaries of the information will be forwarded when they are available.
- PPP as Amended by the Economic Aid Act – guidance about the changes made to the PPP under the second stimulus package.
- PPP Second Draw Loans – guidance on the second round of PPP financing.
- Accessing Capital for Minority, Underserved, Veteran, and Women-owned Businesses – targeted guidance for specific business owners.
In addition, the Internal Revenue Service in conjunction with the Treasury Department just released guidance on the deduction of certain PPP-related expenses. Read more about that here.