On December 27, 2020, new legislation was enacted to extend the life of a vital program available to Main Street businesses: the Paycheck Protection Program (PPP). This new legislation creates a second round of PPP loans for eligible businesses, makes new businesses eligible for a first-time PPP loan (as well as a second-draw loan), and makes other key programming changes. A key programming change expands eligibility for PPP to certain 501(c)(6) organizations.
Additional information available at: Senator Braun-Coronavirus Resource Link
Further guidance will be coming soon. Businesses should start by talking with their financial professional.