Borrowers will have greater flexibility in using PPP2 loan proceeds.Once again, the loans will be on a “first-come, first-served” basis.First-time borrowers as well as those who received PPP loans in the first rounds are both eligible.The relief bill includes $285 billion in additional funds for PPP2 lending.After review of the new legislation, we have outlined the details provided thus far: The Small Business Administration is still working to finalize the rules and approved forms for the newest round of the PPP. Round 2 Paycheck Protection Program Outline Liberty SBF can process thousands of applications a day, at no cost to borrowers, to ensure they are ready to close without delay as soon as the new PPP loan program is ready to fund. In addition, Liberty SBF has relaunched, already a leading source of news and information about PPP, and a web application for small business borrowers to apply for new Paycheck Protection Program relief funding. Since then, the company has invested in its PPP technology and built a secure, customized portal to process loan forgiveness for those customers. Pre-register for second round of PPP loans »Īs a non-bank lender with over 10-years of experience providing capital at a low cost to small business owners, Liberty SBF facilitated over 3,200 loans in the sum of more than $350 million in the last round of PPP lending.
The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act approved by Congress and signed into law by President Donald Trump allocates $285 billion for PPP loans to be funded through approved lenders like Liberty SBF. In 2021, a second round of Paycheck Protection Program (PPP) funding gives small businesses another chance at stimulus relief as the country continues to battle the effects of Covid-19.