PPP Loan Round Two to Begin January 13

(CR Photo)

The application process for the second draw of the Paycheck Protection Program loans will begin January 13.

If documents were correctly submitted in the first round, there is no need to re-submit a new application.

The PPP loans are eligible for full forgiveness if 60 percent of the money received was spent on payroll costs.

The loans are to be used to cover utility bills, mortgage, worker protection costs from COVID-19, or uninsured vandalism that happened in the past year.

In order to receive the second round of the PPP loan, business owners must have used the full amount of their loan from the first round.

To qualify, applicants must be deemed a small business, make less than $250,000, and have less than 300 employees.

The application deadline for the second round of the PPP loan is March 13.

For more information on eligibility and terms, visit https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses.

Tori Lavon
Tori Lavon is a Multimedia Journalist from Reedley, California. She received her Bachelor's in Mass Communications and Journalism with an emphasis in Broadcasting from California State University, Fresno. Currently, she is a radio intern were she sometimes has the opportunity to be on-air with talent. She is getting her start in media. She has a passion for reporting, photography, and videography. Tori also has a love for art; she loves to draw, paint, and does pottery on the side. One day she hopes she can be on-air talent at a radio station as well.