No, there will not be another Paycheck Protection Program (PPP) round. The program, which provided forgivable loans to small businesses, officially ended on May 31, 2021. As of 2026, no new stimulus or PPP legislation has been passed, and the SBA is only handling forgiveness for previous, already-issued loans.
In total, Congress set aside an additional $284.5 billion for new and second draw PPP loans in Round 3, which will extend until March 31, 2021, to the extent funding lasts.
No, the Paycheck Protection Program (PPP) is not coming back for new loans; the program officially ended in May 2021, with the last funds disbursed, but existing borrowers can still apply for loan forgiveness, a process the SBA continues to support for those who meet eligibility criteria, U.S. Small Business Administration (SBA). While new funding is not available, the SBA website provides resources for managing forgiveness, which requires specific use of funds for payroll and other eligible expenses, Small Business Administration (SBA).
There is no federal stimulus check approved or scheduled as of January 2025. Congress has not passed any new stimulus legislation, and the IRS has confirmed that the original three rounds of Economic Impact Payments are complete.
While speculation about a fourth stimulus check has surfaced on social media and unverified websites, there has been no official confirmation from Congress or the IRS to support this claim and any such news should be taken with caution as it could be misinformation or attempted fraud.
Households with adjusted gross income (AGI) up to $75,000 for individuals (up to $150,000 if married filing jointly and up to $112,500 if head of household ) will receive the full payment. The third stimulus payment starts to phaseout for people with higher earnings.
The SBA has referred more than 10,000 delinquent PPP loans with balances over $100,000, as well as $20 billion in delinquent PPP loans with balances of less than $100,000, to the Treasury Department for collection. For years now, the government has reported massive amounts of fraud in connection with PPP loans.
What: The EIDL advance grant is a form of small business relief providing $10,000 dollars in grants, i.e., completely free and non-repayable money, to select small businesses. The grant program was part of the initial CARES Act in 2020, but funds were exhausted within weeks.
The PPPEA was enacted on March 30, 2021 and extended the covered period of the PPP from March 31, 2021, through June 30, 2021.
A borrower can apply for forgiveness once it has used all loan proceeds for which the borrower is requesting forgiveness. Borrowers can apply for forgiveness any time up to the maturity date of the loan.
Yes—businesses can have more than one SBA loan, provided they meet the eligibility requirements for each and maintain a strong repayment history. The Small Business Administration does not place a strict limit on the number of SBA loans a business can hold.
As of 2025, the SBA has closed new PPP applications, but businesses that received funding in previous rounds can still apply for forgiveness under the latest guidelines. The simplified application process for loans under $150,000 remains in place, reducing paperwork for small businesses seeking forgiveness.
Applicant must have 300 or fewer employees; Applicant must have experienced a revenue reduction demonstrating at least a 25% reduction in gross receipts. Note that the amount of any forgiven first draw PPP loan is not included toward any gross receipts.
If you can't pay back your EIDL loan, the SBA can seize collateral, garnish wages (up to 15%), offset federal payments (like tax refunds), damage your credit, and take legal action, potentially leading to lawsuits and loss of business or personal assets, with the debt transferred to the Treasury Department for collection, which has significant enforcement powers.
The Targeted EIDL Advance provided funds of up to $10,000 to applicants who were in a low-income community, could demonstrate more than 30% reduction in revenue during an eight-week period beginning on March 2, 2020, or later, and had 300 or fewer employees.
No, the Paycheck Protection Program (PPP) is not coming back for new loans; the program officially ended in May 2021, with the last funds disbursed, but existing borrowers can still apply for loan forgiveness, a process the SBA continues to support for those who meet eligibility criteria, U.S. Small Business Administration (SBA). While new funding is not available, the SBA website provides resources for managing forgiveness, which requires specific use of funds for payroll and other eligible expenses, Small Business Administration (SBA).
Who will be audited? PPP loans in excess of $2 million are automatically triggered for an audit by the SBA. The SBA has created a safe harbor for any PPP loan borrower that, together with its affiliates, received loans of less than $2 million.
The SBA can: (1) report the status of the loan(s) to credit bureaus, (2) hire a collection agency to collect the loan, (3) offset income tax refunds or other amounts due to the borrower from the Federal Government, (4) suspend or debar you or your company from doing business with the Federal Government, or (5) refer ...
The opportunities to claim or file for the first stimulus payment (issued in March and April 2020) or the second stimulus check (issued by Jan. 15, 2021) or the third stimulus check (issued between March and December 2021) have now passed.
March 2021: The IRS will begin distributing a third round of Economic Impact Payments (EIP), also referred to as stimulus payments or stimulus checks. This federal relief includes several elements aimed at helping people stay engaged in the economy, which means direct cash for many individuals and families.