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Additional Aid & Forgiveness for Small Business Approved

PPP Forgiveness Update

Now, businesses with PPP loans up to $150,000 are eligible for forgiveness. We will alert you when more information becomes available.
PPP Second Draw Program

A new $900 billion stimulus bill has been approved. It includes $284 billion in forgivable loans for small businesses that continue to be impacted by the COVID-19 pandemic.

Any business that qualified and received a PPP loan in 2020 will now have the chance to apply for a second PPP loan, known as the  “second draw” program, if they meet certain criteria.

Second Draw Program:
  1. The company has less than 300 employees
  2. The company had a 25% reduction in revenue during at least one quarter of 2020 versus the same quarter of 2019.
The maximum loan size for a second PPP loan is $2 million. A new application for the second-draw program is forthcoming.
 
For more information, click here.
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