The Paycheck Protection Program is to reopen Jan. 11 for new and some existing borrowers as part of the expanded pandemic-relief spending package that recently was passed by Congress, the Treasury Department said Jan. 8.
First-time loans would be made available by financial institutions starting Jan. 11 and second-round loans, known as second-draw loans, would be made available from Jan. 13, the department said in a news release with the Small Business Administration, which administers the loan program.
The 2021 Consolidated Appropriations Act (Pub. L. 116-260), which was signed Dec. 27 by President Donald Trump, renewed and expanded the PPP...