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Easier Access to PPP Loans for Small Businesses

This act modifies the eligibility rules for the second round of Paycheck Protection Program (PPP) loans, making it easier for small businesses to demonstrate revenue reduction. This change allows more businesses that suffered in 2020 to access financial support, potentially helping to preserve jobs and economic stability.
Key points
Businesses can now show a 25% revenue reduction in any continuous 90-day period in 2020, compared to the same period in 2019.
New rules accommodate businesses that started operations late in 2019 or in 2020, allowing them to qualify for PPP loans based on revenue decline.
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Additional Information
Print number: 117_HR_2582
Sponsor: Rep. Hill, J. French [R-AR-2]
Process start date: 2021-04-15
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

PRACTICAL Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2582.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-04-15.

What are the main provisions?

Key points include:

  • Businesses can now show a 25% revenue reduction in any continuous 90-day period in 2020, compared to the same period in 2019.
  • New rules accommodate businesses that started operations late in 2019 or in 2020, allowing them to qualify for PPP loans based on revenue decline.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Hill, J. French [R-AR-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

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