To our Clients and Friends:
We hope your 2021 is off to a good start. We wanted to send a quick update to dispel a rumor going around regarding PPP round 2 that is currently under way. This has actually been suggested by a bank, which is a bit scary. Even though you do not have to provide evidence of a more than 25% reduction in revenue when applying for a loan less than $150,000, you do not qualify for a “loan” if you cannot prove it later on. On the application you are certifying that you have met the conditions, which includes a more than 25% reduction in any one quarter of 2020 compared to the same quarter in 2019. If you do not meet all the qualifications, please do not apply.
We are trying to stay up to date on all of the changes and when we have additional information we will reach out.
We appreciate your business and trust in our Firm. Enjoy the weekend.