[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-306747-105":3,"detail-sidebar-cat-1-en-105":80,"doc-detail-306747-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":73,"head_meta":75,"extra_data":77,"updated_unix":79},105,"en","ppp-2nd-draw-helping-restaurants-small-businesses-policy-update","PPP 2ND DRAW - HELPING RESTAURANTS + SMALL BUSINESSES - Policy Update","","The policy update explains the federal rules for the second draw of Paycheck Protection Program (PPP) loans created by the late-December COVID-19 relief bill. It covers who qualifies and who is excluded, including a size limit tied to fewer than 300 employees for most cases. It details how to demonstrate at least a 25% gross receipts loss across specified quarters, what counts as gross receipts, and the documentation requirements by loan size for forgiveness.",{"@graph":14,"@context":72},[15,34,55],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/general/","General",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/ppp-2nd-draw-helping-restaurants-small-businesses-policy-update/306747/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/ppp-2nd-draw-helping-restaurants-small-businesses-policy-update/306747.png","ImageObject",442,249,{"name":42,"@type":43},"Stanford","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-09-21","2026-09-19",true,{"@type":52,"interactionType":53,"userInteractionCount":22},"InteractionCounter",{"@type":54},"ViewAction",{"@type":56,"mainEntity":57},"FAQPage",[58,64,68],{"name":59,"@type":60,"acceptedAnswer":61},"Which businesses are eligible for a second draw PPP loan?","Question",{"text":62,"@type":63},"Eligible small businesses, sole proprietors, independent contractors, and others that previously received a PPP loan may apply if they meet the law’s requirements, including the applicable employee-size limit.","Answer",{"name":65,"@type":60,"acceptedAnswer":66},"What qualifies as a 25% gross receipts loss for second draw PPP purposes?",{"text":67,"@type":63},"Businesses must show a gross receipts decrease of 25% or more across a relevant calendar quarter compared with the matching quarter in the prior year, using the document’s specified comparison rules.",{"name":69,"@type":60,"acceptedAnswer":70},"What documentation is required to support gross receipts loss and forgiveness?",{"text":71,"@type":63},"For loans of $150,000 or more, gross receipts documentation is required and lenders perform a good faith review. For loans of $150,000 or less, documentation is not required at application but must be submitted by the time the borrower applies for loan forgiveness.","https://schema.org",{"og:url":32,"og:type":74,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":76,"canonical":32},"index,follow",{"doc_id":78,"site_id":7},306747,1789976055,{"code":4,"msg":81,"data":82},"success",[83,88,93,98,103,108,113,118,123],{"id":84,"doc_module":22,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},11,"Presentations",90,"presentations",{"id":89,"doc_module":22,"doc_module_name":25,"category_name":90,"show_sort_weight":91,"slug":92},12,"Resumes",80,"resumes",{"id":94,"doc_module":22,"doc_module_name":25,"category_name":95,"show_sort_weight":96,"slug":97},14,"Invoices",70,"invoices",{"id":99,"doc_module":22,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},15,"Posters",60,"posters",{"id":104,"doc_module":22,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},16,"Social Media",50,"social-media",{"id":109,"doc_module":22,"doc_module_name":25,"category_name":110,"show_sort_weight":111,"slug":112},17,"Forms",40,"forms",{"id":114,"doc_module":22,"doc_module_name":25,"category_name":115,"show_sort_weight":116,"slug":117},18,"Letters",30,"letters",{"id":119,"doc_module":22,"doc_module_name":25,"category_name":120,"show_sort_weight":121,"slug":122},21,"Paper Templates",5,"papers-templates",{"id":124,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":4,"slug":125},158,"general-158",{"code":4,"msg":81,"data":127},{"doc_id":78,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":124,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":22,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":135,"language":136,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":12,"update_tm":140,"read_time":30},2336477552062,"https://ap-avatar.wpscdn.com/davatar_994ba38a5ba835b3df7d355c54d3ed8d","The latest COVID-19 pandemic relief bill, approved in late December, created a second draw of Paycheck Protection Program (PPP) loans.  \nEligible restaurants and small businesses can access $284.5 billion in new PPP loans, which can be fully forgiven if proceeds are used for allowable expenses during a selected 8-week or 24-week period that begins after the proceeds are received. This document outlines new rules published by the federal government January 6.  \nUNDERSTANDING WHO’S ELIGIBLE AND WHO’S NOT  \nEligible Businesses: Small businesses, sole proprietors, independent contractors and others that previously received a PPP loan can apply for a second draw PPP loan, if they satisfy the law’s requirements.  \nIneligible Businesses: A business/organization that was not in operation on February 15, 2020; publicly traded companies; a recipient of a Shuttered Venue Operator Grant as established by the COVID-19 Relief Act; foreign-owned or operated businesses; some other limited exclusions.  \nQualifying Business Size: To qualify, an eligible business must employ fewer than 300 employees. For restaurants and hotels operating under NAICS 72, this size standard is set at 300 “per physical location,” allowing companies with multiple locations to access a second draw. Restaurants and hotels had a similar standard under the first draw in 2020, but that threshold was set at 500 employees per location.  \nDEMONSTRATING LOSSES  \nRevenue Losses: Businesses must show a gross receipts loss of 25% or more across a calendar quarter, when compared to an applicable time period.  \nGross receipts during the first, second, third, or fourth quarter in 2020 must show a 25% or more decrease from the gross receipts of the business during the same quarter in 2019.  \n• If the company was not in business during the first or second quarter of 2019, but was in business during the third and fourth quarter of 2019, its gross receipts during the first, second, third, or fourth quarter of 2020 must show a 25% or more decrease from the gross receipts of the business during the third or fourth quarter of 2019.  \nThis material is provided for informational purposes only and it is not intended to constitute legal advice.  \nRecipients should consult with counsel before taking any actions based on the information contained within this document.  \n2  \nUpdated 1/10/2021  \nPUBLIC AFFAIRS COVID-19 INFO SERIES  \nPOLICY UPDATE  \nPPP 2ND DRAW: HELPING  \nRESTAURANTS + SMALL BUSINESSES  \n• If the company was not in business during the first, second, or third quarter of 2019, but was in business during the fourth quarter of 2019, its gross receipts during the first, second, third, or fourth quarter of 2020 must show a 25% or more decrease from the gross receipts of the business during the fourth quarter of 2019.  \n• If the company was not in business during 2019, but was in operation on February 15, 2020, its gross receipts during the second, third, or fourth quarter of 2020 must show a 25% or more decrease from the gross receipts of the business during the first quarter of 2020.  \nNote: An eligible business may have been temporarily “closed” or not in business for a portion of time due to COVID-19 and can still qualify for a second draw PPP.  \nAdditionally, eligibility rules require the applicant to have received and exhausted a first draw PPP loan for eligible expenses before receiving a second draw. There does not appear to be a requirement that a first draw PPP loan must be forgiven before applying for, or receiving, a second draw PPP loan. First draw PPP recipients can take up to 10 months after finishing the covered period to submit the forgiveness application. While SBA retains the ability to review unresolved first draw loans, in which eligibility or eligible loan amounts are in question, these procedures do not disqualify an eligible unresolved borrower from receiving a second draw PPP loan.  \nDETERMINING 25% GROSS RECEIPT LOSS   \n“Gross Receipts” include all revenue in “","cbCaiizdf3K89mNF","https://ap.wps.com/l/cbCaiizdf3K89mNF","pdf",396477,7,"English","# Understanding who’s eligible and who’s not\n## Eligible businesses\n## Ineligible businesses\n## Qualifying business size\n# Demonstrating losses\n## Revenue loss thresholds\n## Defining gross receipts\n## Documentation requirements\n# How much relief is available?\n## Overview","[{\"question\":\"Which businesses are eligible for a second draw PPP loan?\",\"answer\":\"Eligible small businesses, sole proprietors, independent contractors, and others that previously received a PPP loan may apply if they meet the law’s requirements, including the applicable employee-size limit.\"},{\"question\":\"What qualifies as a 25% gross receipts loss for second draw PPP purposes?\",\"answer\":\"Businesses must show a gross receipts decrease of 25% or more across a relevant calendar quarter compared with the matching quarter in the prior year, using the document’s specified comparison rules.\"},{\"question\":\"What documentation is required to support gross receipts loss and forgiveness?\",\"answer\":\"For loans of $150,000 or more, gross receipts documentation is required and lenders perform a good faith review. For loans of $150,000 or less, documentation is not required at application but must be submitted by the time the borrower applies for loan forgiveness.\"}]","PPP 2ND DRAW - HELPING RESTAURANTS + SMALL BUSINESSES - Policy Update | PDF",1789840678]