New PPP Loans Under Economic Aid Act
Burr Forman
JANUARY 11, 2021
Beginning January 11, 2021, Borrowers who seek a First Draw PPP Loan under the new law can apply through community financial institutions exclusively allowed to make First Draw PPP Loans. times average monthly payroll costs (capped at $100,000 per employee annually in 2019, 2020, or the year prior to the loan. PPP Loan Amounts.
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