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Increased PPP Loans for Farmers, Self-Employed, and Small Businesses

This act makes it easier for farmers, ranchers, and self-employed individuals to receive larger Paycheck Protection Program (PPP) loans. It allows them to recalculate their loan amounts based on gross income, potentially increasing the support received. Businesses that have already received loans can apply for additional funds.
Key points
Farmers, ranchers, and self-employed individuals can now calculate their PPP loans based on gross income, often resulting in a higher loan amount.
Businesses that already received PPP loans can request a recalculation and receive additional funds if they qualify for a larger amount.
Rules for second PPP loans have been adjusted to ease access to funding, including for seasonal and new businesses.
The deadline for administrative expenses for the PPP program has been extended to September 30, 2023.
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Expired
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Additional Information
Print number: 117_S_1249
Sponsor: Sen. Cardin, Benjamin L. [D-MD]
Process start date: 2021-04-20
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

PPP Flexibility for Farmers, Ranchers, and the Self-Employed Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1249.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-20.

What are the main provisions?

Key points include:

  • Farmers, ranchers, and self-employed individuals can now calculate their PPP loans based on gross income, often resulting in a higher loan amount.
  • Businesses that already received PPP loans can request a recalculation and receive additional funds if they qualify for a larger amount.
  • Rules for second PPP loans have been adjusted to ease access to funding, including for seasonal and new businesses.
  • The deadline for administrative expenses for the PPP program has been extended to September 30, 2023.
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. Cardin, Benjamin L. [D-MD].

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.

CATEGORIES

Economy Agriculture Benefits