Breaking Down The Pandemic Relief Package

The Rochester area chamber of commerce is helping to break down the elements of the new federal covid-19 relief bill

?

"*head on over the rochester area chamber of commerce is helping to break down the elements of the new federal covid?

"* 19 relief bill..

Kimt new three's jessica bringe sat in on the virtual seminar and joins us live from rochester with the latest.

Jessica.

Katie?

"* there's a lot to unpak in the newest relief bill..

The latest paycheck protection program has several changes passed by congress that many business owners will likely want to know about.

There's a "second draw" p?

"*p?

"*p opt small businesses who have exhausted their initial loan as well as changes that impact eligibility for initial loans and the loan forgiveness process.

Those changes were covered today during the chamber's path forward 2021 webinar series.

Now in order to qualify for a second p?

"*p*p draw..

The business must have used up the first loan..

Have 300 employees or less (which is down from 500 employees in the first and second round of p?

"*p?

"*p) then you have to b able to meet the "necessity requirements."

It's the same thing in the certification that you had previously signed in your ppp application which is the uncertainty of current economic conditions makes necessary the loan request to support ongoing operations.

As i mentioned there's a lot to unpack ?

"* that's only the tip of the iceberg.

We do have a link to the u?

"*s chamber of commerce guide to small business covid?

"* 19 emergency loans linked to this story on kimt?

"*dot?

"* com.

Live in rochester?

"* jessica bringe thank you jessica.

Congress has also made changes to other programs ?

# including economic injury disaster loans..

The employee retention tax credit, and s?

"*b?

"* a loan programs.