Paycheck Protection Program Reopened and Accepting Applications

January 19, 2021

Attention Small Business Owners!


The Paycheck Protection Program (PPP) has reopened and the Small Business Administration (SBA) is now accepting applications for new applicants (First Draw PPP Loans) and existing borrowers (Second Draw PPP Loans).


The PPP loans are designed to provide a direct incentive for small businesses to keep their workers on payroll. These loans can be used to help fund payroll costs, including benefits, and may also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.


If used for eligible expenses and all employee retention criteria is met, these loans are subject to forgiveness.


To qualify for a First Draw PPP Loan, the following entities affected by Coronavirus (COVID-19) may be eligible:


  • Sole proprietors, independent contractors, and self-employed persons
  • Any small business concern that meets SBA’s size standards (either the industry size standard or the alternative size standard)
  • Any business, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, or tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of:
    • 500 employees, or
    • That meets the SBA industry size standard if more than 500
  • Any business with a NAICS code that begins with 72 (Accommodations and Food Services) that has more than one physical location and employs less than 500 per location


A borrower is generally eligible for a Second Draw PPP Loan if the borrower:


  • Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses
  • Has no more than 300 employees; and
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020


For more information please visit