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PPP Loans Q&A: Who Qualifies for a Second Round?

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The Paycheck Protection Program is back.Between April and August, the program distributed $523 billion in forgivable government-backed loans to 5.2 million small businesses to help them keep paying their workers through the pandemic’s economic devastation.Now it’s restarting, after Congress included $284 billion in new funding in the stimulus package it passed in December. Crucially, the program will give the hardest-hit businesses a chance at a second loan.P.P.P. 2.0 makes other changes, too, including to eligibility and to limits for some loan sizes. Here’s what you need to know.Who is eligible?The new funding is available …

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