Paycheck Protection Program
First Time PPP Borrower
- Expands eligible borrowers to include housing cooperatives, newspapers, broadcasters, and radio stations.
- Excludes publicly traded businesses.
Second Draw PPP Borrowers
- Maximum loan amount of $2,000,000.
- Available to businesses with 300 or fewer employees.
- Available to businesses that sustained a 25% drop in revenue for any 2020 quarter versus the same quarter in 2019.
- Available to businesses that have used 100% of the initial PPP loan.