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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 that started in 2019 or 2020 to demonstrate revenue reduction. This change allows more businesses to access financial aid, potentially helping to preserve jobs and economic stability.
Key points
Changes how revenue reduction is calculated for businesses applying for a second PPP loan.
Simplifies eligibility for businesses that started in 2019 or 2020 to meet revenue reduction criteria.
More small businesses may qualify for financial support, potentially helping to maintain operations and employment.
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Expired
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Additional Information
Print number: 117_S_1200
Sponsor: Sen. Portman, Rob [R-OH]
Process start date: 2021-04-19
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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

Fair PPP Accounting Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1200.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-19.

What are the main provisions?

Key points include:

  • Changes how revenue reduction is calculated for businesses applying for a second PPP loan.
  • Simplifies eligibility for businesses that started in 2019 or 2020 to meet revenue reduction criteria.
  • More small businesses may qualify for financial support, potentially helping to maintain operations and employment.
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. Portman, Rob [R-OH].

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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