On January 19, the PPP was opened to all lenders. SBA released guidance regarding how to calculate revenue reduction and loan amounts for a Second Draw PPP loan. The agency also issued forgiveness guidance and new forgiveness applications.

On Monday, December 21, 2020, Congress passed the Consolidated Appropriations Act, 2021 (CAA), which contains a $900 billion COVID-19 relief package that, among many other initiatives, reauthorizes and modifies the Paycheck Protection Program (PPP). 

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