The government-owned Kuvimba Mining House which has been a subject of speculation since its formation with some reports saying it is owned by controversial businessman Kuda Tagwirei came under the spotlight last week when Harare North legislator Norman Markham demanded to know who owns it, what it owns and how it got what it owns.…
Thursday, January 14, 2021
On January 6, 2021, the Small Business Administration (SBA) published an Interim Final Rule (IFR) announcing the implementation of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Ventures Act’s (Economic Aid Act) temporary loan program, the Paycheck Protection Program (PPP) Second Draw Loans. Key provisions of the PPP Second Draw Loan program are summarized below.
Eligibility for Second Draw PPP Loans
Eligible Borrowers
Eligible borrowers include businesses, nonprofit organizations that are eligible for First Draw PPP Loans under the Economic Aid Act, housing cooperatives, veterans’ organizations, tribal businesses, certain self-employed individuals, sole proprietors, independent contractors, small agricultural cooperatives, certain 501(c)(6) organizations, destination marketing organizations, and certain nonprofit news organizations.