On December 27, 2020, President Trump signed the “Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (aka “EAA”). Among many other things, the EAA created the “Second Draw PPP Loans Program,” (what we’re calling PPP 2.0) which gives you the chance to basically get the same PPP loan again.
Since then, the Treasury Department has released additional guidance providing clarification of this loan program, which I cover below. Many of the details and terms of the loan mirror the first round of PPP loans, hence the term PPP 2.0.
Who is Eligible?
PPP 2.0 is eligible for businesses, sole proprietors, and independent contractors who:Read More