๐๐ฒ๐ ๐ฃ๐ฃ๐ฃ ๐๐ฝ๐ฑ๐ฎ๐๐ฒ๐ ๐ถ๐ป๐ฐ๐น๐๐ฑ๐ฒ:
โข PPP borrowers can set their PPP loanโs covered period to be any length between 8 and 24 weeks to best meet their business needs;
โข PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
โข The Programโs eligibility is expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations;
โข The PPP provides greater flexibility for seasonal employees;
โข Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and
โข Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.
๐ ๐ฏ๐ผ๐ฟ๐ฟ๐ผ๐๐ฒ๐ฟ ๐ถ๐ ๐ด๐ฒ๐ป๐ฒ๐ฟ๐ฎ๐น๐น๐ ๐ฒ๐น๐ถ๐ด๐ถ๐ฏ๐น๐ฒ ๐ณ๐ผ๐ฟ ๐ฎ ๐ฆ๐ฒ๐ฐ๐ผ๐ป๐ฑ ๐๐ฟ๐ฎ๐ ๐ฃ๐ฃ๐ฃ ๐๐ผ๐ฎ๐ป ๐ถ๐ณ ๐๐ต๐ฒ ๐ฏ๐ผ๐ฟ๐ฟ๐ผ๐๐ฒ๐ฟ:
โข Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
โข Has no more than 300 employees; and
โข Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.