Video: Changes to the Paycheque Protection Program under the Economic Assistance Act | McDermott Will & Emery
The Economic Aid Act includes new aid for small businesses, but there are significant issues and uncertainties that could make many small businesses ineligible. The law provides for additional uses and expanded paycheck protection program (PPP) eligibility for first-draw PPP loans, a new round of second-draw PPP loans as well as significant tax changes for borrowers PPP. James W. Kim, a partner in McDermott’s Washington, DC office, leads the firm’s Federal Loan Assistance Working Group. In a new video, he explains how See more +
The Economic Aid Act includes new aid for small businesses, but there are significant issues and uncertainties that could make many small businesses ineligible. The law provides for additional uses and expanded paycheck protection program (PPP) eligibility for first-draw PPP loans, a new round of second-draw PPP loans as well as significant tax changes for borrowers PPP. James W. Kim, a partner in McDermott’s Washington, DC office, leads the firm’s Federal Loan Assistance Working Group. In a new video, he explains how small businesses can be affected by PPP changes. Visit our PPP Hot Topic page to find out more: https://coronavirus.mwe.com/covid-relief-updates-paycheck-protection-program-save-our-stages-grants/
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