The $284B PPP will be available to small businesses starting Jan. 11 скачать в хорошем качестве

The $284B PPP will be available to small businesses starting Jan. 11

Kate Rogers reports the second paycheck protection program will be available for small business owners starting on Jan. 11. She joins 'Closing Bell' to discuss. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi The Paycheck Protection Program will reopen on Jan. 11, offering forgivable loans to small businesses and allowing certain cash-strapped firms to borrow a second time, according to the U.S. Small Business Administration. Congress authorized up to $284 billion toward the small business loan program as part of the sweeping Covid relief act that went into effect near the end of 2020. That measure also included additional aid for small businesses in the form of tax deductibility for expenses covered by PPP, as well as tax credits for firms that kept their employees on payroll and simplified forgiveness for loans under $150,000. This time, the SBA and Treasury Department have staggered the reopening. That means at first only community financial institutions – this includes banks and credit unions that lend in low-income communities -- will be able to initiate PPP loan applications on Jan. 11. They will offer second PPP loans to qualifying businesses starting on Jan. 13, the SBA said. Firms taking a second infusion of loan proceeds must meet certain qualifications, including having no more than 300 employees and experiencing at least a 25% reduction in gross receipts in a quarter between 2019 and 2020. The program will reopen to all participating lenders shortly thereafter, according to the agency. “Today’s guidance builds on the success of the program and adapts to the changing needs of small business owners by providing targeted relief and a simpler forgiveness process to ensure their path to recovery,” said Jovita Carranza, administrator of the SBA. » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-n... Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC https://www.cnbc.com/select/best-cred... #CNBC #CNBCTV