Child Care Update- January 12, 2021

Child Care Update- January 12, 2021

As part of the COVID-19 Relief Law, the Paycheck Protection Program (PPP) is reopening today for First Draw borrowers. This round is set to authorize up to $284 billion in job retention and other expenses through March 31, 2021. If you are an existing borrower, you may apply for a Second Draw PPP loan beginning on Wednesday, 1/13/2021. Providers, please reach out to your bankers ASAP if you want to access these funds. Portion spent on payroll does not have to be repaid. For additional information on key updates, eligibility, Second Draws for current borrowers, and more, here are some additional resources:

• Small Business Administration PPP Loan Details
• Montana Nonprofit Association Update from 1/11/2021
• Overview of the First Draw PPP from the Small Business Administration

Overview of the Second Draw PPP from the Small Business Administration