The firehose of federal relief for businesses, the Paycheck Protection Program (PPP), was replenished for 2021 with nearly $300 billion and greater flexibility. How long your PPP loan period lasts, which expenses qualify, and tax implications are among many factors that were adjusted to help direct resources to some of the small businesses most in need. Lance Schoening, government relations director at Principal®, and Mark West, national vice president of business solutions at Principal, join host Kyle Munson to walk through the recent upgrades to PPP and other federal relief introduced by the Consolidated Appropriations Act, 2021.

Covered in this conversation:

(2:13) Simplified forgiveness for PPP loans of $150,000 and less

(6:39) A more flexible PPP

(8:22) More eligible PPP expenses

(11:02) What about 'second draw' PPP?

(14:00) Other 2021 federal relief changes

(16:10) Retirement plan provisions

(19:19) More federal relief for business in 2021?