Details on PPP “Second Draw,” Shuttered Venue Grants and Emergency Loans in COVID-19 Relief Bill

 

Congress’s new relief bill makes available $284 billion for second draw loans under the Paycheck Protection Program (PPP-2) and also makes important changes to the existing Paycheck Protection Program (PPP-1). In addition, the bill created a new $15 billion grant program to provide aid to struggling live venue operators and related businesses. The new legislation also re-authorizes various emergency loan programs, including emergency injury disaster loans as well as the Small Business Administration’s Section 7(a), 504 and Microloan programs.

Snell & Wilmer invites you to this virtual edition of the Emerging Business Seminar Series™, where partner Eric Kintner will discuss PPP-2, shuttered venue operator grants, emergency relief loan programs in the new COVID-19 relief bill and any new regulations that are published before the webinar.

Topics for this complimentary seminar will include discussion of the following:

• Eligibility for PPP-2 loans, including 300-employee limit and revenue loss requirements, and expansion to include 501(c)(6) organizations, a local news media organization and housing cooperatives
• Tax deductibility for PPP expenses
• Simplified PPP-2 loan applications
• Terms for shuttered venue grant program
• Re-authorization of emergency relief loan programs