Understanding the second stimulus package: What business owners need to know about the Consolidated Appropriations Act

In late December, the second Covid-19 relief bill — the Consolidated Appropriations Act of 2021 (CAA) — was signed into law. Beyond adding billions of dollars to existing stimulus funds, the sprawling legislation also contains many provisions that could affect your company’s bottom line. Changes to the Paycheck Protection Program (PPP) The CAA adds another $284 billion in funding for forgivable loans through the PPP, for both first-draw and second-draw borrowers. New loans can be made through…