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PPP (Paycheck Protection Program) - Second-draw  

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  • Must have experienced a 25% or more reduction in revenue in comparable quarters (i.e. 2nd quarter 2020 vs 2nd quarter 2019)

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  • up to $2 million for eligible businesses that received first-round funding

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  • Eligibility requirements include having 300 or fewer employees

 

  • Must have used the entirety of the first-round funding on eligible expenses prior to receiving second-draw funding

 

  • Maximum allowable amount is 2.5 times average monthly payroll, though some eligible businesses (hotels and restaurants) can receive up to 3.5 times their average monthly payroll

 

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