We at CFOshare readMore: Latest round of PPP funding targets mom-and-pop businesses. 5. Funding for PPP has run out for all lending institutions with the exception of CDFIs. Second shows dispersed current. Like other PPP loans, the interest rate for all second-draw PPP loans is set at 1%, and no personal guarantee or collateral is required. 38 billion that the SBA approved in Michigan during the first round of the program. 5x the average monthly 2019 or 2020 payroll costs up to million. nginx Mar 09, 2021 · Funding Circle introduces paycheck protection program loan pre-application system. 117-6, did not include any additional funding for the current round of the PPP, which Congress provided with more than 0 billion to make forgivable loans to small businesses and not-for-profits suffering economic loss related to the COVID-19 pandemic. In a Jan. bottlenecked as it did at the beginning of the first wave of PPP funding. Companies in the north of the country are using the second round of PPP loans. First and Second Round PPP Eligibility Requirements. Jan 5, 2021 — Loan Amount: Similar to the original PPP Loans, a borrower may receive a loan up to 2. 1. Dec 16, 2020 · There are other measures being floated for the next stimulus bill, including additional Paycheck Protection Program (PPP) funding for small businesses impacted by COVID-19, according to McConnell. 5 times 7. This gives small businesses Apr 28, 2021 · First Draw vs. Thing is, that’s only a quarter of the amount Congress In the second round of PPP, smaller loans went to fewer companies • KeyBank in the Buffalo area this year provided 66 PPP loans representing over . The average PPP loan for a microbusiness with less than 10 employees so far this year is around ,000, versus ,000 for all May 05, 2021 · The PPP Extension Act of 2021, P. ” Since the issuance of the Second Draw Rules, the SBA in consultation with the Department of the Treasury has released further guidance and forms. 16, 2021 at 2:09 PM PDT. And a second round of PPP funding round surfaced in early January 2021. 17. DansDeals has partnered with Cross River Bank for readers to take advantage of PPP funding. ” Jan 24, 2022 · PPP2 Loan FAQ: Applying for the Second Round of Funding. DAYTON, Ohio (WDTN) -In January the SBA and the treasury department launched a second round of PPP funding. 1859 Whitehaven Road, Grand Island, NY 14072 Phone: 716-773-7676 Fax: 716-773-7190 Jan 25, 2022 · The Company began actively participating in round two of the PPP loan program in late January, 2021. 2021. Dec 22, 2020 · A guide to the most prominent measures in the 0 billion second stimulus bill — including 0 weekly unemployment benefits and 0 direct checks to help Americans face the economic and Apr 06, 2020 · • Small Businesses and Sole Proprietors may begin applying for PPP loans starting April 3, 2020 with applications concluding by June 30, 2020. While there have been efforts to increase access to funds, more is needed to ensure businesses that most need relief are able to access it. 26. 31. 5x average monthly 2019 or 2020 payroll costs up to million. • The loan proceeds are spent on payroll costs and other eligible expenses; and. Apr 21, 2020 · With the House poised to give final passage to a 4 billion package of new pandemic relief funds on Thursday, lawmakers and the Trump administration are already turning their focus on the next Mar 24, 2020 · Second Draw PPP Loans made to eligible borrowers qualify for full loan forgiveness if during the 8 to 24 week covered period following loan disbursement: Employee and compensation levels are maintained in the same manner as required for the First Draw PPP loan; The loan proceeds are spent on payroll costs and other eligible expenses; and Any duplicate schools listed do not reflect a duplication of funding. 5 times 2 days ago · Investigating alleged fraudulent uses of CARES Act and #PPP funding is a "top priority" for federal prosecutors as experts predict up to billion could have been disbursed based on fraudulent 301 Moved Permanently. Jan 24, 2022 · PPP2 Loan FAQ: Applying for the Second Round of Funding. 3. May 03, 2020 · The Trump administration announced Sunday that 2. Accepting PPP applications. Congress authorized an additional 0 billion for PPP funding. Aug 24, 2020 · Back at the end of March, remember, Congress passed the . If you were rejected in the first round or didn't receive funds, you have a chance to apply again for an initial PPP loan. Over 40% of PPP funds are still available two weeks into its second as many anticipated the second round of funds to be depleted at the However, that money was gone within two weeks, resulting in the second round of funding totaling 0 billion. 19. , including many in the automotive industry. The list of participating schools for August and September 2020 issuance can be found here. 5 times Jan 25, 2021 · Lenders start processing the second round of PPP loans. LANSING, Mich. 5). WASHINGTON, D. 6. Funding remains solely for community lenders. 21. How and When to Apply . Your application will be processed once ALL documentation is submitted in its entirety. 2 days ago · Investigating alleged fraudulent uses of CARES Act and #PPP funding is a "top priority" for federal prosecutors as experts predict up to billion could have been disbursed based on fraudulent 12 hours ago · Niagara Frontier Publications. As most businesses are aware, the rules governing PPP loans have been updated as part of The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Jan 24, 2022 · PPP2 Loan FAQ: Applying for the Second Round of Funding. 5%, Johnson with 22. Other covered expenses include operationalIs-2nd-round-of-ppp-funding-gone. 5x the average 2021. 2. Alpine issued 1,965 Round 2 PPP loans during the first half of 2021, with combined original CAWEB/PPP Theory? Have you been funder for more than 500k once PPP second draw had been forgiven BUT yet to be updated as paid in full on CAWEB? First round of PPP on CAWEB shows paid in full. The SBA advises borrowers to apply as soon as possible as there is a funding cap and there will be Apr 15, 2021 · “Unlike the previous round of the PPP, loan guaranty approval is now contingent on passing SBA fraud checks, Treasury’s Do Not Pay database, and public records,” the fact sheet states. In 2021, a second round of Paycheck Protection Program (PPP) funding gives small businesses another chance atAfter 2 months of ongoing debate and negotiations, congress and the president have passed a second round of the Paycheck Protection Program into law. Of the PPP funding meant for these groups, billion will be accessible through community financial institutions "They've got another round of checks in the air, but at the core there's nothing like keeping someone on payroll," Zerbe said. S. D. 1st round I was funded in literally 48 hours. These second draw loans have a separate application and are meant for those that have, or soon will, exhaust all the funds from their original loan. Mar 09, 2021 · Funding Circle introduces paycheck protection program loan pre-application system. Jan 22, 2021 · PPP funding is available to businesses that previously received a PPP loan. Called and they stated I would be contacted directly if eligible. 5 times Jan 11, 2021 · Paycheck Protection Program, 2nd Round – Frequently Asked Questions: 1) I already received one PPP loan. However, with all the changes, no additional funding was added. 5 times 301 Moved Permanently. Jan 08, 2021 · For most businesses, the formula is the same as the first round of PPP loans: Average monthly payroll x 2. Feb 15, 2021 · To realize these benefits, a little bit of funding goes a long way. Just a month after the 1st loan? Reply. Memphis vs Tulsa Online Live Stream Adobe Flash Player For Mac 10. Second-draw loan funds can be forgiven if they are used on covered costs within 8 to 24 weeks of receiving your loan. Jan 10, 2021 · SBA opens second round of PPP loans, serves low-income communities first. You can still apply for the exact same amount of money as the first If you're looking for information on how to take advantage of the second round of PPP funding, keep reading. “First/second wave” and “first/second round Apr 14, 2021 · To qualify for the second draw of PPP funding you must provide documentation that shows your business experienced a 25% or more decrease in sales in 2019 or 2020 and has less than 300 employees. 1859 Whitehaven Road, Grand Island, NY 14072 Phone: 716-773-7676 Fax: 716-773-7190 CAWEB/PPP Theory? Have you been funder for more than 500k once PPP second draw had been forgiven BUT yet to be updated as paid in full on CAWEB? First round of PPP on CAWEB shows paid in full. After round two loans had ended in August of 2020 2021. 9 Billion Has Gone to 22,000 CT Businesses in Second Round of PPP said he received a first round of PPP funding and two of his four businesses qualify for the second round. “First-draw” refers to a borrower’s first PPP loan, whether taken in the initial, 2020 round of funding or with this new, 2021 wave. We aren’t done yet, with several more applications currently being processed! However, funding allocated to the PPP will soon be exhausted. What's updated for the second round of PPP? the PPP ran out of general funds and the SBA stopped accepting new PPP loan applications. The maximum grant amount is million. How does this round of loans differ from the last one? Applicants have between eight and 24 weeks to use the funds, with at least 60 2021. Apply through a fintech company If you tried to get a PPP loan previously but failed to find a lender to take you You must use at least 60% of funds for eligible payroll costs to qualify for full loan forgiveness, down from 75%; You can use up to 40% of funds for eligible received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms Second Draw PPP Loans can be used to help fund payroll costs,. Loans under 0,000 have a simplified loan forgiveness application form. 4 million loans worth 1. In the last round of funding, the average loan size was roughly 9,152 with 70 Dec 21, 2020 · TAMPA, Fla — A second round of help is on the way as Congress finally agrees on a 0 billion COVID-19 relief bill. But now more help has arrived. Dec 30, 2020 · While many businesses feel like they have gone 12 rounds of boxing with the COVID-19 pandemic and the government measures taken in response thereto, recently enacted reforms to the Paycheck Protection Program (“PPP”) are providing a “Round 2” of financing in hopes of enabling certain borrowers on the ropes to avoid throwing in the towel. If you got one before, you can apply again. The government's new phased approach to distributing the 4 billion in recently allocated PPP funds means it's unlikely that the money will 2021. At least 60% of the loan must be used to pay workers' payroll expenses. 94 billion between the two rounds. Second-draw PPP loans. The PPP Extension Act was passed by Congress recently and signed by President Joe Biden on March 30. Terms of Forgiveness. SBA said that it has reserved approximately billion in funding for Jan 01, 2021 · The majority of the changes are effective as of January 1, 2021, and impact the first two quarters of the year. That is until the passage of legislation on December 27, 2020, which included additional funding for a second round of PPP funding. The new rules state an applicant is eligible for a second draw loan if it is a “a business concern, independent contractor, eligible self-employed individual, sole proprietor, nonprofit organization eligible for a First Draw PPP Loan, veterans organization, Tribal business concern, housing cooperative, small agricultural cooperative, eligible 501(c)(6 Dec 29, 2020 · IR-2020-280, December 29, 2020. The interim legislation allocated an additional 0 billion for PPP loans. Supporting documentation. PPP loan applications will be submitted to lenders, not to the SBA. The new round of funding would also add billion to a separate emergency loan program for small businesses, the Economic "I know one bank that got roughly 5,000 applications and was able to get 2,000 approved, so it already has 3,000 PPP applications in hand and ready to go when and if there's› Get more: Sba ppp 2nd round applicationShow All. Print. Government Requires Insurers To Cover COVID Test Kits. May 07, 2020 · A recent Small Business Administration report shows where that second round of funding has gone so far. Apr 28, 2020 · It’s a race for the money, as some analysts believe the 0 billion in new PPP funding could be gone in less than a week. 0 Timing, Release of “Second Draw PPP 2. May 06, 2021 · Note: in FAQs 61 and 62, the SBA clarified that: (a) a borrower may certify, for purposes of the Second Draw PPP Loan application, that it will have used all of its First Draw PPP Loan proceeds Jan 24, 2022 · PPP2 Loan FAQ: Applying for the Second Round of Funding. Jun 30, 2021 · The PPP quickly ran out of funds for both the First Draw and Second Draw. Publicly traded companies are no longer eligible and the maximum number of employees for qualifying businesses has been reduced from 500 to 300 for companies May 06, 2020 · The new report includes numbers on approved loans in states and territories, loan size, and top lenders. 5 times Jun 08, 2021 · SBA still processing PPP loans with hold codes — and the funding is officially gone. The second round of loans are going to companies that did not PPP funding and two of his four businesses qualify for the second round. I have received emails this week saying that Kabbage has submitted our application to the SBA. 9, 2021—In the first round of the Paycheck Protection Program (PPP), the federal government allocated 0 billion to businesses around the U. If you previously received a PPP loan you can now apply for a 2nd one and if you didn’t take a first PPP loan, you can do that now as well. Apr 29, 2020 · According to SBA data, California still lags behind Texas with the second highest number of approved PPP loans. By matching PPP loans to census tracts, we found that 27% of PPP funds went to low- and moderate-income areas, commensurate with the 28% of the 2021. 11. WASHINGTON — Today, the Internal Revenue Service and the Treasury Department will begin delivering a second round of Economic Impact Payments as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans who received the first round of payments earlier this year. Do you suggest I get the second draw PPP, just in case, for 2021? I heard that folks who get the PPP are likely to be audited. 5 times the monthly average payroll costs in the 12-month period prior to the loan or in the prior calendar year. As you are likely aware, Congress overwhelmingly voted to pass a second COVID-19 relief package to bring much-needed aid to Americans struggling during the pandemic. The maximum loan size for a second-draw PPP loan is million, versus million for a first-time PPP loan. This article aims to help businesses understand (i) whether they are eligible for the new round of PPP funding, (ii) the new and expanded list of expenses that can beThe second round of PPP funding includes four categories of additional covered expenses : Operational expenses: For cloud computing, HR, and accounting software. If you’ve already taken a PPP loan, you can apply for a second-draw loan if you’ve had “at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020”. If you or your business received an initial PPP loan, you may qualify for a second round of funding, 2020. First came the CARES Act, which established the paycheck protection program (PPP) in March of 2020 The second round of the Paycheck Protection Program (PPP) represents another opportunity for small businesses to access federal relief. There will be 4. Jan 10, 2021 · The head of Richmond-based Atlantic Union Bank says during the first round of PPP loans, his bank gave out more than 11,000 loans totaling . **IMPORTANT MESSAGE ABOUT NEW ROUND OF PPP FUNDING*** Jan. 5 times 2 days ago · Investigating alleged fraudulent uses of CARES Act and #PPP funding is a "top priority" for federal prosecutors as experts predict up to billion could have been disbursed based on fraudulent Mar 09, 2021 · Funding Circle introduces paycheck protection program loan pre-application system. Jan 11, 2021 · Remember that the eligible expenses that the First and Second Draw PPP funding can be used on has been expanded to include not only covered payroll costs, payment on the covered mortgage and rent obligations, and covered utility payments but also covered operation expenditures, damage costs, supplies costs and worker protection expenditures. The Economic Aid Act set aside  2020. 25 letter, the The second round of the Paycheck Protection Program (PPP) represents another opportunity for small businesses to access federal relief. Receive And Accept Your Funding Approval! If The Deal Makes Sense, We’ll Fund It! We Can Fund your Real Estate Deal with No Credit Check, No Down Payment, and No Closing Costs! Whether it's for a Commercial Project, Fix and Flips, Or your Dream Home, We can Finance you Up To 110% LTV. Feb. The second round of Paycheck Protection Program (PPP) loans is coming, but they're still tough for small businesses to get, writes Greg Ott The dollar amount of the second round PPP loan would typically be the same amount obtained in the first round PPP loan (a repeat of the 2. Feb 22, 2021 · Vinings Bank, Oliver told the MDJ, has received over 400 applications for the second round of PPP loans, about 200 of which have already been approved by the Small Business Administration. Apr 02, 2020 · It was about 1/4 of the first PPP but I’ll take it. 5 times Second Draw PPP Loans generally are guaranteed by SBA under the same terms, conditions, and processes as First Draw PPP Loans. 5 times Apr 24, 2020 · KNOXVILLE, Tenn. 7. Jan-18-2021 07:17 PM. 5 billion in funding now available through the “second round” Paycheck Protection Program can provide a much-needed financial boost for small businesses struggling in the pandemic-induced economic slowdown. By Diana Fitzpatrick, J. For example, borrowers applying for a second PPP loan must have 300 or few Jan 15, 2021 · Two applications exist. Today, guest host Mark Collier sits down with Glenn Kruse, Area Director of the UGA SBDC office in Gwinnett, to discuss PPP round two. In this episode, Toni Lee-Andrews, director of the AICPA Professional Ethics Division, talks about the PPP and ethics with Ellen Goria, our a Jan 24, 2022 · PPP2 Loan FAQ: Applying for the Second Round of Funding. Please note at least 60% of the forgiven Jun 30, 2021 · The PPP quickly ran out of funds for both the First Draw and Second Draw. By: Kamrel Eppinger. Lenders started processing applications for the new Paycheck Protection Program this month, so businesses are applying for the forgivable Jan 25, 2021 · Companies have until March 31 to apply for a first or second PPP loan — or until funding for the program runs out. "Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existingThe second round of PPP funding is available now through the end of March, and there's a lot of money left Is the second round of PPP money gone? No. 12. PPP Round Two ran out of funding in May 2021. But many small businesses continue to navigate the program to understand payback terms, forgiveness application deadlines and more. 2020. Dec 23, 2020 · A second wave of federal coronavirus relief totaling 0 billion could begin flowing to millions of Americans as soon as the year’s end, nearly nine months after Congress passed the original Jan 24, 2022 · PPP2 Loan FAQ: Applying for the Second Round of Funding. 2 million businesses. May 31, 2021 · For most borrowers, the maximum loan amount of a Second Draw PPP loan is 2. 2 million small business loans worth 5 billion have been made in the second round of the Paycheck Protection Program. As of last Friday, the SBA has approved 103,811 PPP loans in Michigan for more than . PPP 2. 2 days ago · Investigating alleged fraudulent uses of CARES Act and #PPP funding is a "top priority" for federal prosecutors as experts predict up to billion could have been disbursed based on fraudulent 301 Moved Permanently. To be eligible to apply for the Second Round of PPP loans, applicants must: Connecticut has the second-highest loan volume in New England, behind only Massachusetts, which had 48,768 loans approved worth more than . Apr 30, 2020 · Now, that the second round of PPP funding has begun, credit unions that did not participate in the first round of funding may have another chance. The second round of the Paycheck Protection Program (PPP) opened to eligible borrowers January 19, 2021. You'll start the process by filling out basic information through their new PPP loan portal, which will then be handedadditional funding for new PPP loans. “From everything we're estimating, this money will be gone in a couple days,” he said. nginx 2 days ago · Investigating alleged fraudulent uses of CARES Act and #PPP funding is a "top priority" for federal prosecutors as experts predict up to billion could have been disbursed based on fraudulent Jan 08, 2021 · The PPP has provided 5. 9. For example, the CAA included an expansion of the Employee Retention Credit (ERC) to now allow PPP borrowers to take advantage of the ERC in 2020 and also extended the ERC to apply Aug 02, 2021 · While many of the forgiveness rules released with the second wave of Paycheck Protection Program (PPP) loans are the same as they were for the first round, there are some key differences to be aware of when planning spending and forgiveness for your first- or second-draw loan. The Paycheck Protection Program (PPP) was resurrected with the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (the Economic Aid Act) which was included in the Consolidated Appropriations Act, 2021, signed into law on December 27, 2020. The SBA has released their PPP guidance around the new stimulus legislation passed on December 27th, 2020. The money must be spent in the 24 weeks following receipt of funds, and the Small Business Administration will require proof that it covered Jan 24, 2022 · PPP2 Loan FAQ: Applying for the Second Round of Funding. May 28, 2021 · June 22, 2021: The New York City Board of Elections reported results from primary day in-person voting and early voting. nginx PPP was a program designed to provide small businesses struggling with the impact of COVID-19 with access to loans up to million. I don’t think our application was submitted to SBA during the first round of funding. Medicare’s Record Part B Premium Hike May Shrink. For more information, go here . Borrowers can apply for a First Draw PPP Loan until March 31, 2021, through any existing Step 2: Apply online Consider Jan 24, 2022 · PPP2 Loan FAQ: Applying for the Second Round of Funding. 28. Named PPP Second Draw, most of the PPP rules have remained the same as before. , those that did not receive PPP funding during the first round). This round of funding will run through March 31, 2021. 301 Moved Permanently. The funds are available through March 31, 2021. Similar to the first round 2021. We reviewed the SBA’s documents and found the following highlights most 2 days ago · Investigating alleged fraudulent uses of CARES Act and #PPP funding is a "top priority" for federal prosecutors as experts predict up to billion could have been disbursed based on fraudulent Oct 21, 2021 · PPP is gone, but government help for small businesses isn’t. But eligibility for the new round of PPP loans has been narrowed considerably from the first iteration. Question: I am an applicant for a Second Draw PPP Loan amount of 0,000 or less. e. Who is Eligible for PPP Second Draw Loan. These preliminary election day results showed Lander with 31. 5 times Dec 21, 2020 · And, unfortunately, the PPP second draw loan rules are complicated and tricky… Note: This blog post was originally published in August 2020 and then updated on December 21, 2020. 2 days ago · Investigating alleged fraudulent uses of CARES Act and #PPP funding is a "top priority" for federal prosecutors as experts predict up to billion could have been disbursed based on fraudulent Jan 24, 2022 · PPP2 Loan FAQ: Applying for the Second Round of Funding. nginx PPP ROUND 2 APPLICATIONS NOW AVAILABLE. January 12, 2021. To be eligible for a first-draw PPP loan: Mar 30, 2021 · The deadline for applications for the second round of Paycheck Protection Program loans has been extended to May 31, 2021, from its original March 31 deadline. May 17, 2021 · The SBA will continue funding outstanding approved PPP applications. Many small businesses and self-employed individuals were disappointed in the first go of PPP because they didn't have theirThis law would instead provide PPP borrowers with a second loan if they have had more than a 50 Click HERE to read my past coverage of PPP updates. You can learn more about the PPP with our COVID-19 resource hub. Apr 05, 2020 · And a second round of PPP funding round surfaced in early January 2021. 5 times Feb 02, 2021 · Businesses aren’t flocking to this round of PPP loans about billion worth of loans have been approved in the second round. They are trying to get all those who didn’t receive any funds the Mar 10, 2021 · The package provides for a third round of stimulus checks, formally called Economic Impact Payments, in the amount of ,400 per person (or ,800 per married couple filing jointly). Jan 19, 2022 · Published January 13, 2022. Businesses with fewer than 300 employees can apply for a second PPP loan. 5. Clients who obtained a loan with Popular in the first round and began the process of forgiveness online can access the platform with their previously created credentials. Second draw applications (aka round 2 PPP loans) will be available starting 1/13/2021 to members of CDFI’s only. Other entities may begin applying for PPP loans starting April 1 0, 2020. The “covered period” for the loan is between 8 and 24 weeks, and Jan 05, 2021 · A second round of PPP loans is now available. A second round of 0 billion in funding for the Paycheck Protection Program (PPP)—the Small Business Administration's (SBA) emergency aid relief for small businesses —was authorized on April 24, 2020. He is eligible for a first-draw loan of ,833 (0,000 / 12 * 2. First Bank has proudly helped 552 small business owners through the Paycheck Protection loan program in this second round of funding. sba. The SBA released this find eligible lenders web page late on 4/2 so businesses could find a lender in their area. The legislation easily passed in the House before breezing through the Senate. We submitted our PPP loan application to Kabbage on April 3, 2020. 23. 3, less than a month into the second round, the bank already had 600 applications in the Mar 31, 2021 · A brief 'orientation'. The U. By. 5 times payroll, 3. Mar 04, 2021 · As of February 2021, the main changes PPP loan guidelines have gone through are. Alvarez said during the initial program, from Dec 28, 2020 · New Updates to the PPP: The Small Business Owner’s Complete Guide to PPP Round 2. The expansion of PPP eligible expenses. 2 million loans worth 5 billion to small businesses, supporting more than 51 million jobs, according to the SBA. There are several key components of the legislation, including a new round of funding via Paycheck Protection Program (PPP) loans, which can help your freelance business if your income has been negatively impacted by the pandemic. The Paycheck Protection Program is back, and this time it's recalibrated to help small businesses through Jan 07, 2021 · The rules refer to first round PPP Loans as “First Draw PPP Loans” and this second round as “Second Draw PPP Loans. These loans provided a lifeline to small businesses and employees across the country impacted by the COVID-19 pandemic. My Kabbage dashboard has said that since Monday May 27, 2020. 2nd Round Ppp Qualifications Economic! Analysis economic indicators including growth, development, inflation Details: Second Draw PPP Loan Updates for Small Business Owners. 5 times Jan 11, 2021 · Second round of PPP funding sees lower demand Coronavirus update: No quick economic recovery, more trouble for the PPP loan program Businesses that borrowed less than million in PPP funding 301 Moved Permanently. nginx Jan 07, 2021 · PPP Round 2 Guidance Released by SBA. We recognise the First Peoples of this nation and their ongoing connection to culture and country. This gives small businesses and entrepreneurs additional time to apply. As of May 5, 2021, GSB will not be accepting any new applications. 5 billion in forgivable PPP loan funds available for certain borrowers that already got PPP loans and for other businesses 2021. Loan averages hovered around 7,000, with 87% of the loans going for less than 0,000. RSS. 2 trillion CARES Act. It is available for download here. We have stopped accepting applications for PPP loans due to the Small Business Administration (SBA) PPP funding being exhausted. The IRS will calculate the stimulus amounts based off of people's 2019 — or, if they've already filed, their 2020 — tax returns

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