On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act became law as a part of the Consolidated Appropriations Act, 2021. The Act provides $284.5 billion of additional funding for the Paycheck Protection Program (PPP) through the U. S. Small Business Administration (SBA). The following is a review of key provisions of the PPP including:
First draw loans for entities that did not previously receive a PPP loan
Provisions for modifying the amount of a