A bill to modify the maximum paycheck protection program loan amount for farmers and ranchers, sole proprietors, independent contractors, and self-employed individuals.
This bill modifies the calculation of loan amounts for partnerships with no employees (e.g., self-employed farmers) under the Paycheck Protection Program, which was established to support small businesses in response to COVID-19. Specifically, the bill allows such individuals to apply for a loan in the amount of the difference between their gross and net income loan amounts, even if they have already received a loan based on their net income and received forgiveness for that loan.
Agricultural prices, subsidies, creditBusiness expensesCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSelf-employedSmall businessWages and earnings
A bill to modify the maximum paycheck protection program loan amount for farmers and ranchers, sole proprietors, independent contractors, and self-employed individuals.
USA117th CongressS-1232| Senate
| Updated: 4/20/2021
This bill modifies the calculation of loan amounts for partnerships with no employees (e.g., self-employed farmers) under the Paycheck Protection Program, which was established to support small businesses in response to COVID-19. Specifically, the bill allows such individuals to apply for a loan in the amount of the difference between their gross and net income loan amounts, even if they have already received a loan based on their net income and received forgiveness for that loan.
Agricultural prices, subsidies, creditBusiness expensesCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSelf-employedSmall businessWages and earnings