A Second Round of PPP Loans is Coming (With Some Improvements)

PPP loans are getting a second life. There will be some helpful changes, like tax deductions for expenses paid with forgiven loan proceeds.

picture of mask with "paycheck protection program" written on it sitting on money
(Image credit: Getty Images)

Congress recently passed a $900 billion COVID-19 relief bill that pumps billions of dollars back into the popular Paycheck Protection Program (PPP) that ended in early August. Under the PPP, small businesses can borrow money from private lenders without collateral, personal guarantees or fees. The loans don't have to be repaid to the extent they're used to cover certain expenses, and they provide an important lifeline to businesses that are struggling financially during the coronavirus pandemic.

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Rodrigo Sermeño
, The Kiplinger Letter

Rodrigo Sermeño covers the financial services, housing, small business, and cryptocurrency industries for The Kiplinger Letter. Before joining Kiplinger in 2014, he worked for several think tanks and non-profit organizations in Washington, D.C., including the New America Foundation, the Streit Council, and the Arca Foundation. Rodrigo graduated from George Mason University with a bachelor's degree in international affairs. He also holds a master's in public policy from George Mason University's Schar School of Policy and Government.