On January 11, 2021, the federal government rolled out the new version of the Paycheck Protection Program to further help small businesses survive the COVID-19 crisis. If you’re a small business owner in Nashville looking for funding to support your business, consult your accounting firm immediately to find out if you’re eligible for the program and start the application process.
Here are some of the most important things you should know about this new version of the PPP.
There are two types of PPP loans
In the latest round of funding, you can either qualify for a first draw loan of up to $10 million or a second draw loan of up to $2 million. First draw loans are earmarked for businesses who have not received a PPP loan previously, while second draw loans are for those who have received funding from the first round of PPP.
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