Payroll Protection Plan - 2nd Round

       The SBA will re-open the Paycheck Protection Program from January 11 through March 31, 2021 for eligible small businesses, including:       

First-time borrowers with 500 employees or less who were in operation before February 15, 2020, and

Existing borrowers with 300 employees or less who received a PPP loan under the original Act (aka PPP First Draw Program), and

• Have used or will use the full amount of the initial PPP loan for eligible expenses, and
• Have had a reduction in gross receipts of at least 25% in any quarter in 2020 compared to the same quarter in 2019.