The Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act Provides Round Three of PPP Loans
Pursuant to the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (the “Economic Aid Act”), on January 11, 2021 the latest round of Paycheck Protection Program Loans rolled out, with priority being given by the Small Business Administration via Community Development Financial Institutions, Minority Depository Institutions, Certified Development Companies and Microloan Intermediaries (“Priority Lenders”), to their customers that did not receive a funding under the original Paycheck Protection Program. On January 13, 2021,…