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See SBA’s Interim Final Rule guidance for more details.Ī borrower is generally eligible for a second loan if the borrower: 501 (c)(6) entities such as chambers, visitor’s bureaus and destination marketing organizations and Accomodation and food service operations with NAICS codes starting with 72( with fewer than 500 employees per physical location.Sole proprietors, independent contractors, and eligible self-employed individuals.Businesses with 500 or fewer employees that are eligible for other SBA 7(a) loans.Am I eligible?īorrowers in operation on Februand meet one of the following requirements may be eligible: On Decema second stimulus package was signed into law that provided an additional $284.45 billion to reopen the PPP program and allow businesses that used up their first PPP loan to apply for a second.

The PPP is a loan program that originated from the Coronavirus Aid, Relief and Economic Security Act (CARES) Act to help small businesses keep their workforce employed during the coronavirus pandemic. Existing borrowers may be eligible for PPP loan forgiveness. PPP Application Filing Deadline: Update: The SBA’s Paycheck Protection Program (PPP) ended on Monday, May 31st, 2021. Paycheck Protection Program (PPP) Closed: COVID-19

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