Comes on January 11th the new round of PPP awards

The Federal Administration of Pequeños Negocios (SBA, by its seals in English), in agreement with the Department of Treasury, announced that the Nomination Protection Program (PPP, by its seals in English) will resume the week of January 11 for new performers and existing performer letters. To promote access to capital, in principle only the financial institutions will receive PPM First Draw First Monday, Monday 11th and PPP Second Draw Secondary Schools, 13th year. The program is open to all participating participants.

Last 6th year, an updated PPP guide was published describing the changes that the program will take to increase its efficiency and accessibility, in agreement with the Economic Development Fund for Small Businesses, Organizations and Finances of Lucro and Morals.

This round of PPPs continues to prioritize the millions of employees employed by small companies to authorize up to $ 284,000 million for the retention of labor costs and the number of other guests up to March 31, 2021, and to allow them to increase their performance. the PPP.

“The Nomination Protection Program, historically exiting, will serve as an economic salvage for millions of small businesses and its employees when the need arises,” said SBA Administrator Jovita Carranza, median. “The high prices are based on the success of the program and are adapted to the changing needs of small property owners in order to provide a specific level and a simple conduction process to ensure recovery on the truck.

“The Nomination Protection Program has raised a total of $ 5.2 million for a value of $ 525,000 million to the United States’ largest companies, up to 51 million employees,” said Treasury Secretary Steven T. Mnuchin. This guide updates the PPP-specific level for the most affected companies affected by COVID-19. We are committed to implementing this APP round quickly to continue supporting the small business community and its employees ”.

The PPP key updates included:

• The performers can establish that the period of coverage of their performance is between 8 and 24 weeks in order to better satisfy their commercial needs;

• PPP services cover additional guests, including operating costs, property costs, property costs and work protection benefits;

• The flexibility of the program is amplified to include entities 501 (c) (6), living cooperatives and direct market organizations, among other types of organizations;

• The PPP brinda mayor flexibility in temporary staff;

• Existing shortcuts you can apply to modify the amount of your PPP First Draw preamble; y

• Existing performance funds now have their choice to apply for a PPP Second Draw award.

A performance is generally eligible for a second PPP preposition if the performance:

• Previously received a PPP award and used it using the total amount only for authorized users;

• No tens of masts of 300 persons; y

• Make a minimum of 25% and loose ingresos gross between trimesters comparable in 2019 and 2020.

The new guide published includes:

• Orientation on PPP by the Administrator of the SBA, Carranza, on access to capital for minority companies, dependent populations, veterans and women’s property;

• Final provisional norm on PPP amended by the new economic aid law; y

• Regla final preliminary sobre préstamos PPP Second draw.

To get more information about the SBA’s assistance with the small companies, visit sba.gov/ppp or treasury.gov/cares.