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2021 PPP Changes

HomeBlog
2021 PPP Changes
18
Feb 2021

Changes to Paycheck Protection Program and Second Draw PPP Loan

At the end of 2020, Congress passed, and President Trump signed, a new law that provides for additional relief related to the coronavirus (COVID-19) pandemic. This law, the Consolidated Appropriations Act, 2021 (CAA, 2021), includes a second draw of Paycheck Protection Program (PPP) loans (PPP Second Draw Loans) and updates to the original PPP loan. It also allows businesses to deduct ordinary and necessary expenses paid from the proceeds of PPP loans.
Posted by 
Petrinovich Pugh & Co LLP
In 
COVID 19 Resource Center
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