A third round of Paycheck Protection Program (PPP) loans was authorized by the passage of H.R. 133: Consolidated Appropriations Act, 2021 into law on Dec. 27, 2020. … Business owners can still apply for an EIDL loan but PPP loans are no longer available.
Also to know is, how do I apply for $10000 Eidl grant?
Since any company that’s eligible to receive an EIDL loan is eligible for a grant, the process of getting the up to $10,000 advance for your business was relatively straightforward. You simply went to the SBA’s disaster loan assistance page and filled out an application.
Similarly, is there a 4th PPP loan?
There Won’t Be Another PPP Loan in 2021, but Other Programs Can Help. The SBA (Small Business Administration) isn’t planning another round of PPP (Paycheck Protection Program) loans. Still, other programs are available to help your business recoup revenue lost during the COVID-19 pandemic.
Is there still PPP money left 2021?
As of 5/31/2021 the SBA has disbursed $800 billion of the $813.5 billion so far appropriated by Congress to this program. As of Round Three, $6 billion, or 2 percent of Round Three PPP funding, remain available to the program.
In an attempt to correct inequities found across the country, the Biden administration made changes to the third round of PPP lending, including setting aside a two-week period where only businesses with fewer than 20 employees could apply, allowing sole proprietors to get bigger loans, and letting people with both non …
Any Borrower with a loan of $150,000 or less is eligible to use this form once released, even if they received a loan in 2020, as long as Forgiveness has not already been issued by the SBA.