Revisions to the Payroll Protection Program were included in the recent COVID-19 Economic Relief Bill, signed into law on December 27. Over $284 million was allocated to the forgivable loan program, with new provisions for fund allocations and the opportunity for second draws for certain borrowers.

As of January 19, applications are only being reviewed for businesses and nonprofits in low-income neighborhoods, with applications expected to open for all eligible applicants by the end of January. Check out this handout from the Small Business Administration, and be sure to share with your community.

Thanks to AMIBA member Lowcountry Local First for sharing the SBA handout.

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