Seek Capital Help FAQs
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.
- What is the interest rate on the loan?
- Will I need to keep employees on my payroll or rehire them quickly?
- Do I have to have a personal guarantee or collateral?
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