The Paycheck Protection Program (PPP) will re-open the week of January 11, 2021 for new borrowers and certain existing PPP borrowers. Initially only community financial institutions will be able to make First Draw PPP Loans on January 11th and Second Draw PPP Loans on January 13th, 2021.

This round of PPP will continue to prioritize Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021. It will also allow certain existing PPP borrowers to apply for a Second Draw of PPP loan. The PPP will open to all participating lenders shortly after.