Small businesses can start applying for new PPP loans

(NBC) – Small businesses can start applying for new Paycheck Protection Program loans on Monday.

The latest COVID relief package includes $284 billion for additional lending to eligible businesses.

This third round of lending is different in a number of ways: Businesses can now get a second PPP loan; targeted funds are available for the most vulnerable businesses; restaurants can get bigger loans; there’s greater flexibility in how the loan may be used and still be fully forgiven; the forgiveness process is simpler; and the tax break for loan recipients is bigger.

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