PPP round 2 will start to be available next week, starting Monday, January 11th for first-time applicants and Wednesday, January 13th for second-round applicants. These dates are only applicable for community banks, all other banks will follow shortly afterward.
While we are waiting for clarification on some details from the SBA, to qualify for the loan you must demonstrate that you had a 25% revenue loss in any quarter of 2019 compared to the same quarter in 2020. Those who started a new business late in 2019 have slightly different criteria.
If you need assistance in getting this information together, please contact the Handle It team who have been working with COVID relief funding since it began last year.