PPP Second Draw Loan Requirements

A quick recap of the criteria that’s important.

  1. 25% reduction in revenue year over year or comparing any of the 4 quarters from 2019 to 2020.
  2. It’s a necessity that you actually need this money.
  3. You used ALL of the first round of the PPP money on APPROVED expenses.

There is other criteria but these are the main points.  Read through the following two links so you know exactly what you need to do for the second round of the Paycheck Protection Program.

https://home.treasury.gov/news/press-releases/sm1230
https://www.law.cornell.edu/cfr/text/13/121.104
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