New PPP Funding Could Cover up to 3.5 Months of Salary for Restaurant and Hotel Employees, up to 2.5 Months for Other Businesses

New PPP Funding Could Cover up to 3.5 Months of Salary for Restaurant and Hotel Employees, up to 2.5 Months for Other Businesses

This past Sunday, a $900 billion Coronavirus Relief Act was signed. This national stimulus package will allow a second wave of the Paycheck Protection Program to occur, among other things.

Some items to note about the second round of PPP funding:

  • Restaurants and hotels can receive funding for up to 3.5 months of employee paychecks, all other small businesses can receive funding to cover up to 2.5 months of paychecks
  • Small businesses can apply for the second round even if they already received funding from the first round
  • Similar to the first round of PPP, business owners will need to apply directly through their banks
  • Only businesses with fewer than 300 employees can apply
  • Businesses are required to apply a minimum of 60% of funds received towards employee payroll
  • Businesses have to prove they had at least a 25% decrease in business in 2020
  • The maximum PPP loan for each business is capped at $2 million
  • $12 billion has been earmarked for POC-owned businesses

As of right now, a timeline for applying has not been announced.

By: Michelle Katz @pike.and.rozay

 

 

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AC Milan Soccer Camp at Maryland Soccerplex

AC Milan Academy is hosting a soccer camp at Maryland Soccerplex from March 1st through March 3rd for girls and boys aged 5 to 16 from any club who want to develop their soccer skills and learn the unique methodology of AC Milan directly from AC Milan coaches.

March 1st (Friday) 6pm-7:30pm

March 2nd (Saturday) 6pm-7:30pm

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Location:18031 Central Park Cir, Boyds, MD 20841

Price: $349 + AC Milan Junior Camp Kit

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