Second Draw PPP Loans
If you were a recipient of the First Draw PPP Loans (even if you didn't get them at ECB), you may be eligible for Round 2 PPP funds as well.
Who may qualify?
A borrower is generally eligible for a Second Draw PPP Loan if the borrower:
- Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses.
- Has no more than 300 employees; and
- Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.
If you did not apply for the First Round of PPP Loans you may still be eligible to qualify. The current forms are attached here for your convenience. Contact us for more information.