COVID-19 Recovery Laws Explained and What PPP Reopening Means for One Small Business

Date: January 21, 2021

NFIB’s new tip sheets give small business owners the most urgent recovery provision details

This week the federal Paycheck Protection Program (PPP) reopened at all participating lenders – allowing struggling small business owners to access much-needed forgivable federal loans once again.

A restaurant owner serving a small California community for more than 35 years told us what the second PPP will mean for her business: “The first PPP was a life saver for us and without it, it would have been incredibly difficult to survive this long. Especially with a second shutdown. Operating for takeout only is not sustainable with our large footprint and fixed costs. Eighty-five percent of my staff are unemployed – which is hard on the families especially. This second PPP will be necessary to keep us viable through this second shutdown.”

The COVID-19 recovery package enacted in December provides the crucial support that NFIB and America’s small business owners had long been advocating for. As many grapple with the effects of the health crisis, shutdowns, restrictions and changes to consumer spending, NFIB is tracking policy developments and has these latest resources for small business owners:

Webinars:

NFIB tip sheets and guides for small business owners:

More Resources from NFIB

For more information on the PPP as well as EIDL and other business-friendly changes passed in the federal government’s December 2020 COVID-19 recovery package, join NFIB’s COVID-19 webinar series or go to NFIB’s Coronavirus Resources hub.

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