If your small business meets the following criteria, you may qualify for a Second Draw PPP Loan:

• Businesses with no more than 300 employees (including affiliates), including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors or
  • Businesses with NAICS codes starting with 72, such as hotels and restaurants, and new businesses must have no more than 300 employees per location or
    
  • Certain new organizations or nonprofit broadcast entities must have no more than 500 employees and;
    
• Your business can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020

The following are the primary sets of documentation applicants can provide to substantiate their certification of a 25% gross receipts reduction (only one set is required):

• Quarterly financial statements for the entity.
  If the financial statements are not audited, the applicant must sign and date the first page of the financial statement and initial all other pages, attesting to their accuracy. If the financial statements do not specifically identify the line item(s) that constitute gross receipts, the applicant must annotate which line item(s) constitute gross receipts.
• Quarterly or monthly bank statements for the entity showing deposits from the relevant quarters.
  The applicant must annotate, if it is not clear, which deposits listed on the bank statement constitute gross receipts (e.g., payments for purchases of goods and services) and which do not (e.g., capital infusions).
• Annual IRS income tax filings of the entity (required if using an annual reference period).
  If the entity has not yet filed a tax return for 2020, the applicant must fill out the return forms, compute the relevant gross receipts value, and sign and date the return, attesting that the values that enter into the gross receipts computation are the same values that will be filed on the entity's tax return.

Second Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can 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.

Second Draw PPP Loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:

• Employee and compensation levels are maintained in the same manner as required for the First Draw PPP Loan;
• The loan proceeds are spent on payroll costs and other eligible expenses; and
• At least 60% of the proceeds are spent on payroll costs

To provide you with the best possible support, we will continue to partner with CliftonLarsonAllen ("CLA"), one of the largest accounting firms in the U.S., with the resources and capabilities to efficiently facilitate your PPP loan application.

You will access the portal with the same login information as you have in the past for your PPP Loan Forgiveness application. When you login, you will have the ability to choose between working on Loan Forgiveness or Loan Application.

If you will be accessing the CLA portal for the first time or you haven’t accessed the CLA portal recently, you may request login assistance by emailing [email protected]. All communications related to the Loan Application, additional support, clarification of information, Loan Forgiveness or other application related matters will only occur through the portal or via [email protected].