[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-306744-105":53,"doc-detail-306744-en":126},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":119,"head_meta":121,"extra_data":123,"updated_unix":125},105,"en","paycheck-protection-program-ppp-update-1-14-2021","PAYCHECK PROTECTION PROGRAM (PPP) UPDATE 1-14-2021","","Paycheck Protection Program (PPP) Update 1-14-2021 summarizes how the SBA PPP loan program supported eligible small businesses, nonprofits, veterans’ organizations, tribal concerns, and self-employed individuals during the COVID-19 crisis. It explains PPP Round 1 timelines, loan calculation and forgiveness conditions, key eligibility rules, and loan terms, then outlines PPP Round 2 reopening dates, covered-period selection, simplified forgiveness for loans under $150,000, retroactive tax treatment, and updated allowable expenses.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/paycheck-protection-program-ppp-update-1-14-2021/306744/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/paycheck-protection-program-ppp-update-1-14-2021/306744.png","ImageObject",442,249,{"name":88,"@type":89},"McQueen","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-06","2026-09-19",true,{"@type":98,"interactionType":99,"userInteractionCount":79},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What is the PPP program and who is it designed to help?","Question",{"text":108,"@type":109},"PPP is an SBA loan program that helps eligible borrowers keep their workforce employed during the COVID-19 crisis, including small businesses, nonprofits, veteran organizations, tribal concerns, self-employed individuals, and independent contractors.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What determines whether a PPP Round 1 loan is forgivable?",{"text":113,"@type":109},"Up to 100% may be forgivable if funds are spent on covered costs while employment and wage levels are maintained and employees are quickly rehired, with at least 60% spent on payroll expenses during the covered period.",{"name":115,"@type":106,"acceptedAnswer":116},"What changes did the CAA 2021 bring for PPP forgiveness in Round 2?",{"text":117,"@type":109},"It added clarity and a Simplified Forgiveness Application for loans under $150,000, with attestation-based reporting, updated tax guidance (not taxable and forgiven expenses tax-deductible), and clarified eligible and ineligible expense categories.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},306744,1790650845,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":79,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":47,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":73},5909890329169,"https://ap-avatar.wpscdn.com/davatar_9964176cb1d06d4a9deccf72a44ae3dc","PAYCHECK PROTECTION PROGRAM (PPP) UPDATE 1-14-2021  \nThe Paycheck Protection Program (PPP) is a Small Business Administration (SBA) loan that helps businesses, nonprofits, veteran organizations, tribal concerns, self-employed individuals, independent contractors and other eligible borrowers keep their workforce employed during the Coronavirus (COVID- 19) crisis.  \nPPP Round 1 opened July 6, 2020 and closed August 8, 2020 as outlined by the first CARE’s (Coronavirus Aid, Relief, and Economic Security) Act of March 2020 and the Paycheck Protection Program Extension Act. The Coronavirus Response and Relief Supplemental Appropriations Act 2021, part of the Consolidated Appropriations Act, 2021 (CAA 2021) of December 2020 reopened PPP, provided changes to PPP Round 1 and outlined the regulations for PPP Round 2. For more information on each round see the information below.  \nPPP Round 1 –  \nJuly 6, 2020 to August 8, 2020  \nPPP loans in the first round were available through August 8, 2020. The loan amounts were equal to 2.5 times average monthly payroll costs from 12-month look-back period, up to a maximum of $10 million.  \n• Up to 100% of the loan amount is forgivable IF it is spent on covered costs, employment and wage levels were maintained and employees are quickly rehired.  \no At least 60% of the loan must be spent on payroll expenses and the remaining 40% on designated business operating expenses in the “covered period” following loan origination (“covered period” was either 8 OR 24 weeks as selected by the applicant) .  \n􀂃 Payroll expenses included wages, health, retirement, state/local taxes and other costs, and excluded cash compensation (pro-rated) over $100,000 per employee, workers compensation premiums, payments to independent contractors, and employer-paid federal taxes.  \n􀂃 Designated business operating expenses (non-payroll expenses) included rent, utilities and interest on mortgages.  \n• Borrower must have been in operation, with 500 or fewer employees, on February 15, 2020.  \no Certain franchises also qualified as separate businesses.  \no 500-employee exception for Hospitality/Food Service (NAICS code 72) per physical location.  \n• Loans if not forgiven will have an interest rate of 1%, loans issued prior to June 5, 2020 have a maturity of two years and loans issued after June 5, 2020 have a maturity of five years, with the first payment deferred for six months, and 100% guarantee by the SBA.  \n• No collateral, personal guarantees, or government or lender fees were required.  \nTo complete your PPP forgiveness process:  \n1. Contact your PPP lender and complete the appropriate form.  \no  SBA Form 3508 Paycheck Protection Program Loan Forgiveness Application (Spanish version)  \n􀂃 Instructions for the SBA Form 3508 Paycheck Protection Program Loan Forgiveness Application  \no  SBA Form 3508EZ Paycheck Protection Program Loan Forgiveness Application  \n􀂃 Instructions for the SBA Form 3508EZ Paycheck Protection Program EZ Loan Forgiveness Application  \no  SBA Form 3508S Paycheck Protection Program Forgiveness Application  \n􀂃 Instructions for the SBA Form 3508S Paycheck Protection Program 3508S Forgiveness Application  \n2. Compile your documentation. Please retain employment records for at least 4 years and all other records for 3 years.  \n3. Submit the forgiveness form and documentation (if necessary) to your PPP lender.  \n4. Continue to communicate with your lender throughout the process.  \nFor more information on PPP forgiveness CLICK HERE.  \nThe CAA 2021 added additional clarity on the following points: see below for more information.  \n• Simplified forgiveness application  \n• Tax information  \n• Eligible payroll and designated business operating expenses (non-payroll expenses)  \n• Ineligible payroll expenses  \n• New Safe Harbor Deadline  \nPPP Round 2 –  \nJanuary 11, 2021 to March 31, 2021  \nPPP will be re-opening the week of January 11, 2021 for new borrowers and certain existing PPP borrowers. If you have already rec","cbCaihHtkqwrfO3P","https://ap.wps.com/l/cbCaihHtkqwrfO3P","pdf",263814,"English","# PPP Overview\n## PPP Round 1\n## PPP Forgiveness Process\n## General Updates for Round 2\n## PPP Round 2 Important Dates","[{\"question\":\"What is the PPP program and who is it designed to help?\",\"answer\":\"PPP is an SBA loan program that helps eligible borrowers keep their workforce employed during the COVID-19 crisis, including small businesses, nonprofits, veteran organizations, tribal concerns, self-employed individuals, and independent contractors.\"},{\"question\":\"What determines whether a PPP Round 1 loan is forgivable?\",\"answer\":\"Up to 100% may be forgivable if funds are spent on covered costs while employment and wage levels are maintained and employees are quickly rehired, with at least 60% spent on payroll expenses during the covered period.\"},{\"question\":\"What changes did the CAA 2021 bring for PPP forgiveness in Round 2?\",\"answer\":\"It added clarity and a Simplified Forgiveness Application for loans under $150,000, with attestation-based reporting, updated tax guidance (not taxable and forgiven expenses tax-deductible), and clarified eligible and ineligible expense categories.\"}]","PAYCHECK PROTECTION PROGRAM (PPP) UPDATE 1-14-2021 | PDF",1789840674]