A bill to modify the maximum paycheck protection program loan amount for farmers and ranchers, sole proprietors, independent contractors, and self-employed individuals.
- Last Action
- 4/20/2021
Actions
- 2021-04-20Read twice and referred to the Committee on Small Business and Entrepreneurship.
- 2021-04-20Introduced in Senate
CRS Summary
As of 2021-04-20 (00)
This bill modifies the calculation of loan amounts for partnerships with no employees (e.g., self-employed farmers) under the Paycheck Protection Program, which was established to support small businesses in response to COVID-19.
Specifically, the bill allows such individuals to apply for a loan in the amount of the difference between their gross and net income loan amounts, even if they have already received a loan based on their net income and received forgiveness for that loan.
Subjects
- Agricultural prices, subsidies, credit
- Business expenses
- Cardiovascular and respiratory health
- Emergency medical services and trauma care
- Government lending and loan guarantees
- Infectious and parasitic diseases
- Self-employed
- Small business
- Wages and earnings
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.