Client Alert: Paycheck Protection Program (PPP) 2.0 – A Summary of the New and Modified Rules

In late December of 2020, the Consolidated Appropriations Act, 2021 (the “CAA”) was signed into law which contains approximately $900 billion in additional coronavirus (COVID-19) relief funding programs. Among those programs is an additional $284 billion in additional aid to small businesses to be allocated via a second round of Paycheck Protection Program (“PPP”) loans. These new loans will be made available both to qualifying new borrowers and borrowers who have previously received a PPP loan. Learn more in this Client Alert written by Partner Anthony Zeoli.

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