February 16, 2021

This update is for all of you that operate a business, have you determined if you are eligible for PPP funding?

Back on January 10th I sent out a blast about the newly passed legislation which included new PPP opportunities. Many of you have called the office for assistance but I feel many of you have not yet taken advantage of this free money.

If you received a PPP last year you may apply for a second draw PPP if your gross income has decreased by 25% in any quarter of 2020 compared to the same quarter in 2019.

If you did not receive a PPP last year you may apply for the first draw PPP.

You qualify for the first draw if:

You were in operation on February 15, 2020 and a business with employees or a business without employees but you pay independent contractors and issue them a 1099 or a Schedule C, with or without employees.

For more information, please visit our website and read the article in the Covid-19 Updates tab that was posted on January 11, 2021 and called Economic Aid Act – CARES Act. This article has more information and the link for the entire Interim Final Rule on PPP.

The program closes March 31st so don’t delay; we are here to assist you.

Shari and staff