News Flash

City News & Events

Posted on: January 8, 2021

COVID Relief for Businesses

The Consolidated Appropriations Act of 2021 (CAA) signed into law on December 27, 2020, includes several updates to the Paycheck Protection Program (PPP) established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CAA combines $900 billion in stimulus relief for the COVID-19 pandemic with a $1.4 trillion omnibus spending bill for the 2021 federal fiscal year.

 

The CAA contains provisions for certain prior recipients of PPP loans, including:

  • Increase in old PPP loans
  • Additional eligible uses for PPP loan proceeds
  • Additional eligible payroll costs
  • More flexibility in determining the covered period
  • Streamlined forgiveness process

 

The act also includes three new unemployment insurance programs:

  • Pandemic Unemployment Assistance (PUA)
  • Federal Pandemic Unemployment Compensation (FPUC)
  • Pandemic Emergency Unemployment Compensation (PEUC)

 

The Small Business Administration announced today that the PPP Program will re-open the week of January 11 for new borrowers and certain existing PPP borrowers and will release more information as soon as it becomes available.

 

To read the Consolidated Appropriations Act (CAA), visit https://www.congress.gov/116/bills/hr133/BILLS-116hr133enr.pdf 

 

Florida Power & Light (FPL) is now accepting applications for its new Main Street Recovery Credit Program, offering credits to qualifying small businesses impacted by the coronavirus (COVID-19) pandemic. Qualifying small businesses would receive a monthly 10% credit based on the previous month’s energy charge portion of their electric bill for the program's duration.

 

For further information, please visit: https://www.fpl.com/business/coronavirus/main-street-recovery.html  

 

For additional information, please contact the Department of Economic Development at 954-395-6051 or by email at economicdevelopment@deerfield-beach.com

Facebook Twitter Email