DON’T MISS YOUR CHANCE TO GET THE SECOND ROUND OF PPP LOANS

By: thelanninggroup.com | January 22, 2021

To usher in 2021 and provide much needed COVID relief, the SBA resumed the Paycheck Protection Program on January 11. While the first week of the program was available only to select small businesses, the program opened for all on January 19.

This second round of funding is available for both first- and second-time borrowers with some additional restrictions on second-time borrowers as follows:

1. 300 or fewer employees.
2. Used, or will use, the full amount of the first PPP loan before the expected disbursement date of the second PPP loan.
3. Experienced a revenue reduction of 25% or more in gross receipts between comparable quarters in 2019 & 2020.

If you need additional funding and feel you meet the above requirements, then please get in touch with your lender as soon as possible. Word on the street is that this second-round funding will go very quickly. For liability reasons, we cannot help you apply for the loan or pull data for your application, but we will do our best to assist you with any general questions you may have.

May the odds be ever in your favor,

Your TLG Team