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Paycheck Protection Program 2.0

Click below for information regarding the specific loan programs available under the Paycheck Protection Program. 
First Draw Paycheck Protection Program (PPP) Loans are now available through the Small Business Administration (SBA) to help Small Businesses keep their workers on payroll.  Your business may be eligible for a First Draw PPP Loan if you did not obtain a PPP Loan during the SBA's last round of PPP funding.  If you previously received a PPP Loan, you may be eligible for a Second Draw PPP Loan (see separate tab).

Who is Eligible?

Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships and independent contractors are eligible. Businesses with more than 500 employees are eligible in certain industries. 501 (c)(6) organizations, housing cooperatives and eligible destination marketing organizations with 300 or fewer employees are eligible.

How Can the Funds be Used?

  • At least 60% must go to payroll costs (using the same definition of payroll costs used to determine loan eligibility), including costs related to the continuation of group health care benefits during periods of paid sick leave, medical, or family leave, and insurance costs
  • Not more than 40% can go to qualified non-payroll costs:
    • Mortgage interest payments on debt obligations incurred before February 15, 2020
    • Rent payments on leases dated before February 15, 2020
    • Utility payments (i.e. electricity, gas, water, telephone, internet) under service agreements dated before February 15, 2020
    • Operating expenditures, property damage costs, supplier costs, and worker protection expenditures

Borrowers may apply for forgiveness of the loan if all employee retention criteria are met, and the funds are used for eligible expenses.

When to Apply

Applications will be accepted through March 31, 2021

How to Apply

Access the application packet here: 
If you previously received a PPP Loan, you may be eligible to apply for a fully-forgivable Second Draw PPP Loan under the Economic Aid Act.

Are you eligible for a Second Draw PPP Loan?

If you can answer yes to all of the questions below, you are eligible for a Second Draw PPP Loan:
  1. I have already received a PPP loan.
  2. I have used, or will use, the full amount of my PPP loan before disbursement of a Second Draw Loan.
  3. I used, or will use, the full amount of my PPP loan only for authorized uses as outlined in the PPP guidelines.
  4. I have no more than 300 employees.
  5. I do not plan to apply for or receive a Shuttered Venue Grant, under Section 324 of the Economic Aid Act.
  6. I can demonstrate a revenue reduction of 25% or greater in 2020 relative to 2019 by comparing quarterly gross receipts for one quarter in 2020 with gross receipts for the corresponding quarter in 2019.  Alternatively, if I was in operation in all four quarters of 2019, I can demonstrate a revenue reduction or 25% or greater when comparing annual gross receipts in 2020 to annual gross receipts in 2019.
Note: Reduction in income must be verifiable through tax forms (including annual), quarterly financial statements (for both 2019 & 2020) or bank statements (for both 2019 & 2020): 
  • Tax Forms: Annual IRS income tax filings of the entity are required if using an annual reference period. If the entity has not yet filed a tax return for 2020, the Applicant must fill out the return forms, compute the relevant gross receipts value, and sign and date the return, attesting that the values that enter into the gross receipts computation are the same values that will be filed on the entity’s tax return.
  • Financial Statements: if the financial statements are not audited, the Applicant must sign and date the first page of the financial statement and initial all other pages, attesting to their accuracy.
  • Bank Statements: The Applicant must annotate, if it is not clear, which deposits listed on the bank statement constitute gross receipts (e.g. payments for purchases of goods and services), and which do not (e.g. capital infusions).


Ready To Apply? 

Applications for Second Draw PPP Loans will be accepted through March 31st, 2021. 
Access the application packet here: