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Changes to PPP Loans for Seasonal and New Businesses

This act modifies how the maximum amount for a second Paycheck Protection Program (PPP) loan is calculated for seasonal and new businesses. The goal is to make it easier for these specific types of businesses to access financial support, helping them retain employees.
Key points
Seasonal businesses can now calculate their maximum PPP loan amount based on any 12-week period between February 2019 and February 2020.
New businesses established after February 2020 can calculate their loan amount based on average monthly payroll costs since starting operations.
Businesses in the accommodation and food services sector (NAICS code 72) are eligible for a higher loan amount (3.5 times average monthly payroll costs).
The changes apply to loans made before, on, or after the act's enactment date.
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Expired
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Additional Information
Print number: 117_S_1140
Sponsor: Sen. King, Angus S., Jr. [I-ME]
Process start date: 2021-04-15
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Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Seasonal Business PPP Parity Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1140.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-15.

What are the main provisions?

Key points include:

  • Seasonal businesses can now calculate their maximum PPP loan amount based on any 12-week period between February 2019 and February 2020.
  • New businesses established after February 2020 can calculate their loan amount based on average monthly payroll costs since starting operations.
  • Businesses in the accommodation and food services sector (NAICS code 72) are eligible for a higher loan amount (3.5 times average monthly payroll costs).
  • The changes apply to loans made before, on, or after the act's enactment date.
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 Sen. King, Angus S., Jr. [I-ME].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

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