The resurrected Paycheck Protection Program – Can you take advantage of the revised rules?

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Abstract: Businesses have until March 31, 2021, to apply for a PPP loan — or until the $284 billion in funding allocated in a new law runs out. If an auto dealership requires financial assistance in the shadow of the COVID-19 pandemic, it likely has time to apply for a loan through an approved lender, even if it didn’t receive a PPP loan in 2020. This article presents the most important things to know about the extended program, including how to determine if a business qualifies.