This is the second round of PPP loans for small businesses
The small business community has been hit really hard this past year.
And that has prompted #Congress to pass the second round of Payroll Protection Program (PPP) loans package.
The “window” to apply for a second #PPP loan will close on March 31, 2021.
(Earlier if the funds run out.)
Business owners need to get busy.
Start getting together the necessary #documentation.
The #requirements to qualify for a PPP loan include:
* 25% (or more) reduction in gross receipts (2020 compared to 2019)
The drop can be annual; or for any 2020 quarter compared with same quarter in 2019
* The business has 300 #employees or less
* The #business is operational
(You can get the PPP loan even if you had to temporarily close.
Key word here: temporarily. Not permanently.)
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