The updated forms (below) reflect congressionally authorized changes in the program, including for certain 501(c)(6) organizations, housing coops and media organizations and the lender requirement to confirm payroll documentation.
Who is eligible for "First-Draw" loans?
Existing PPP borrowers that did not receive loan forgiveness by December 27, 2020 may:
Who is eligible for "Second-Draw" loans?
The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general terms as their First-Draw PPP Loan. Second-Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used for:
Targeted eligibility for "Second-Draw" loans:
The borrower is generally eligible for a Second-Draw PPP Loan if the borrower: