What Does 2021 Hold for PPP?
Congress has set to revitalize the Payroll Protection Program (PPP) during 2021, including some major additions to funding as well as an expansion of eligibility. This revitalization has been made to help the smallest, most impacted businesses, especially nonprofits and restaurants. Here is what you need to know about the revitalized PPP:
$284 billion for PPP loans in 2021
Borrowers can apply for a first, or second PPP loan, meaning that this program is available to those who have already taken out a PPP loan in 2020.
Eligibility is expanded to for nonprofits, local newspapers, and TV/radio broadcasters
Modification aimed at helping the smallest, most impacted businesses and nonprofits
Includes $15 billion marked to provide aid to live venues, movie theaters, and cultural institutions.
PPP expected to resume in January 2021
Helpful Resources:
Last year, we provided an extensive blog, outlining how to take advantage of the PPP Loan Forgiveness Program, which also includes eligibility requirements. Use the following links to help you know everything necessary to getting the PPP loan as well as loan forgiveness:
How We Can Help
Operating a small business is no small task, and US Capital Solutions is here for you, every step of the way. Getting funding for your business can be tough, and sometimes expensive, but we are here to help you navigate the labyrinth of financing options and find you the most affordable and flexible avenue to grow your business the way it was meant to grow. Complete our free and easy Credit Application Today or contact one of our Account Executives to get a free consultation and see how we can help your business grow through the proper funding.
