Still Time to Apply for PPP Loans 

March 10, 2021

By: Elizabeth L. Morgan

As a bonus to Bond’s March 9 webinar about the evolving legal implications of COVID-19 for business, Bond business attorney Elizabeth L. Lehman discussed some new guidance for business owners to consider as the Small Business Administration’s Payroll Protection Loan program winds down this month.

Between now and March 31, 2021, first- and second-time eligible borrowers may apply for either a First Draw or Second Draw PPP Loan from the program, which is still flush with $119 billion in funds available to borrow. In her video, Liz reviewed some new eligibility requirements for Second Draw loans, including a maximum of 300 employees and a documented reduction in revenue in 2020 relative to 2019.

The full presentation covered the following topics:

  • Vaccine and Variant Update
  • PPP Update
  • Relief Legislation Update
  • NYS Labor Legislation
  • Update from Albany

Click here to view the webinar in its entirety or to register for upcoming Tuesday presentations.