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People also ask
Are round 3 PPP loans still available in 2021?
Use of Round 3 PPP Funds Tax Treatment of Round 3 PPP Loans The Consolidated Appropriations Act, 2021 (CAA), signed into law by President Trump on Dec. 27, 2020, included new funding for the Paycheck Protection Program (PPP), which had expired Aug. 8, 2020. The PPP was created by the CARES Act and originally included $349 billion in funding.
What expenses can I use round 3 PPP funds for?
The CAA expanded the types of expenses for which you can use Round 3 PPP funds. This also applies to existing PPP loan funds (unless you have already obtained forgiveness). In addition to payroll, rent, covered mortgage interest, and utilities, the Paycheck Protection Program will now let you use loan proceeds for: 1
What is round 3 of the Paycheck Protection Program (PPP)?
Round three funding of $284 billion expanded on the original PPP goals of providing loans to businesses for payroll and other costs to help them remain viable and allow their workers to pay their bills. The table below outlines all three rounds of PPP loan funding.
How much money is in the PPP loan?
The PPP was created by the CARES Act and originally included $349 billion in funding. That money was gone within two weeks, resulting in a second round of funding totaling $320 billion. After Round 2 loans ended in August, there has been no additional funding until now.