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Can I apply for a second PPP loan if I received a first round PPP loan in 2020?

Yes you can! The second draw was setup to help the more harder-hit businesses. You can qualify if you have:

  • No more than 300 employees
  • Have used or will use the full amount of the first PPP
  • Can demonstrate you have to have at least 1 quarter (3 month period) in 2020 with a 25% drop in revenue compared with the same period in 2019.

Related Links

  1. What is the interest rate on the loan?
  2. Will I need to keep employees on my payroll or rehire them quickly?
  3. Do I have to have a personal guarantee or collateral?

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