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Federal Government Re-Opens Paycheck Protection Program, Issues New Guidance

The U.S. Department of the Treasury and the Small Business Administration this week re-opened the Paycheck Protection Program. The program opened on Jan. 11 for businesses that have not taken PPP loans, and on Jan. 13 it will open for businesses that have already received PPP funding. In addition, new guidance on changes to PPP was released on Jan. 6. To learn more about the PPP re-opening, click here, and to learn more about the new guidance, click here (and navigate to the bottom of the page, under “The new guidance released includes”). Curi encourages practices considering applying for this round of PPP funds to contact their bank as soon as possible to prepare.