*UPDATE:  January 13, 2021:  Additional information available in this downloadable PDF from the NFIB.  

More financial assistance is on the way to our small businesses.  The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Act”)was passed by Congress on December 21, 2020 and signed into law on December 27, 2020 as part of the Consolidated Appropriations Act, 2021. The COVID-19 recovery package will offer a second, more targeted round of funding for both the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) Advance Grants. It also makes several business-friendly tax changes to both loan programs and extends some of the tax credits from the first recovery package.  Here’s a look at economic recovery 2.0 from the NFIB.