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SuperVision - Labor & Employment Insights, Issue 4, December 2023 | Spilman Thomas & Battle, PLLC

IIA Debuts New Global Research; Announces Professional Achievement Awards at 2022 International Conference

SBA and Treasury announce PPP re-opening, issue new guidance

WASHINGTON, D.C.  The U.S. Small Business Administration, in consultation with the Treasury Department, announced Friday the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers, according to a news release from the Maine Department of Marine Resources. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13, the release noted. The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act, per the release. 

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