The Biden Administration recently announced substantial changes to the Paycheck Protection Program (PPP), which provides forgivable loans to businesses struggling during the COVID-19 pandemic. More than $660 billion in PPP loans have been approved since April 2020, and many companies still have the opportunity to apply for loans until March 31, 2021. Starting February 24 and ending March 9, there will be a two-week exclusivity period for businesses with fewer than 20 employees to apply for first- and second-draw PPP loans.
The U.S. Chamber of Commerce recently hosted a webinar on the latest updates to the PPP program. You can watch a recording of the webinar, and learn more about the PPP program, here.