On December 22, 2020, our team had the amazing opportunity to sit in on the US Chamber of Commerce (CO- by U.S. Chamber of Commerce) update on the new coronavirus relief bill and how it relates to businesses. Topics included: a second PPP distribution, updated tax information and loan forgiveness, and other items to help US businesses.
U.S. Chamber Executive Vice President and Chief Policy Officer, Neil Bradley, and Content Director at CO— and host of their Blueprint series, Jeanette Mulvey, discussed how Congress is zeroing in on a new coronavirus relief deal that will include a new round of funds for small businesses across the country and what the new bill could mean for businesses.
This opportunity was brought to us locally by Peters Township Chamber of Commerce. If you are interested in updated business news and educational series like this seminar, we highly recommend that you connect with your local chambers and with networking organizations like Women’s Business Network, Inc.
Here are some of their top takeaways:
– Businesses can apply for PPP loans if they didn’t before
– A new ‘second draw’ PPP will offer businesses additional aid
– Eligible PPP expenses have changed
– Paycheck Protection Program loans are not taxable
– Changes to the employee retention tax credit (ERTC)
– EIDL grants will reopen
– A new grant program for live venues
Rewatch the US Chamber of Commerce event and see more details on their website here.