[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-306746-105":53,"doc-detail-306746-en":130},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":123,"head_meta":125,"extra_data":127,"updated_unix":129},105,"en","second-draw-ppp-loan-guidelines","Second Draw PPP Loan Guidelines","","Second Draw PPP loans are available to business applicants that previously received a PPP loan, with applications due by March 31, 2021. Loan approval by the U.S. SBA is required on or before the same date. The maximum loan amount is limited to 2.5 times average monthly payroll costs (2019 or 2020) or $2 million, with a higher NAICS 72 cap. The 5-year loan term, covered period choice, and forgiveness rules require eligible spending and at least 60% payroll costs.",{"@graph":63,"@context":122},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":51,"@type":70,"position":76},"https://docshare.wps.com/template/general/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/second-draw-ppp-loan-guidelines/306746/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/second-draw-ppp-loan-guidelines/306746.png","ImageObject",442,249,{"name":88,"@type":89},"supergirl","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-09-21","2026-09-19",true,{"@type":98,"interactionType":99,"userInteractionCount":76},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114,118],{"name":105,"@type":106,"acceptedAnswer":107},"Who is eligible to apply for a Second Draw PPP loan?","Question",{"text":108,"@type":109},"Eligible applicants are businesses that previously received a PPP loan and meet specific criteria, including having 300 or fewer employees eligible for SBA 7(a) and demonstrating at least a 25% reduction in gross receipts in 2020 versus the same quarter in 2019 (or on an annual basis).","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What is the maximum Second Draw PPP loan amount?",{"text":113,"@type":109},"The maximum loan amount is 2.5 times average monthly payroll costs (using 2019 or 2020) or $2 million, whichever is less. NAICS code 72 businesses may borrow up to 3.5 times average monthly payroll costs or $2 million, whichever is less.",{"name":115,"@type":106,"acceptedAnswer":116},"What spending is required for full loan forgiveness?",{"text":117,"@type":109},"Loan proceeds must be spent on payroll costs and other eligible expenses such as rent, mortgage interest, utilities, operations expenditures, and worker protection expenditures. At least 60% of the proceeds must be spent on payroll costs to receive full forgiveness.",{"name":119,"@type":106,"acceptedAnswer":120},"What documents are needed to demonstrate the 25% revenue reduction?",{"text":121,"@type":109},"Acceptable documentation may include relevant tax forms (including annual tax returns) or, if unavailable, quarterly financial statements or bank statements. For loans of $150,000 or less, documentation is not required at application time but must be submitted before applying for loan forgiveness.","https://schema.org",{"og:url":78,"og:type":124,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":126,"canonical":78},"index,follow",{"doc_id":128,"site_id":56},306746,1789840676,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":88,"user_avatar":133,"doc_module":9,"category_id":50,"category_name":51,"doc_title":59,"doc_description":61,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":76,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":9,"language":139,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":61,"update_tm":129,"read_time":4},962088121634,"https://ap-avatar.wpscdn.com/davatar_9964176cb1d06d4a9deccf72a44ae3dc","Second Draw PPP Loan Guidelines  \nSecond Draw PPP loans are available to business applicants that previously received a PPP loan. The last day to apply for a Second Draw PPP loan is March 31, 2021. Please note that the loan application must also be approved by the U.S. SBA on or before March 31, 2021 for the applicant to receive the loan proceeds.  \nMaximum Loan Amount: 2.5 times the average monthly payroll costs (from 2019 or 2020) or $2 Million, whichever is less. Business entities assigned with a NAICS code 72 (typically restaurants & hotels) are permitted to a maximum loan amount of 3.5 times their average monthly payroll costs or $2 Million, whichever is less.  \nLoan Term: 5 Years  \nEligible Costs for Loan Forgiveness: The loan proceeds must be spent on payroll costs and other eligible expenses such as rent, mortgage interest, utilities, operations expenditures, property damage costs, supplier costs, and worker protection expenditures. At least 60% of the proceeds must be spent on payroll costs to receive full forgiveness.  \nCovered Period: PPP borrowers can choose between 8 to 24 weeks after the date of disbursement (e.g. A PPP borrower may elect 10 weeks or 20 weeks as the covered period) .  \nLoan Deferral Period: PPP borrowers have 10 months after the end of the covered period to submit a loan forgiveness application without making principal or interest payments  \nThe following groups are eligible for a Second Draw PPP Loan:  \n1. Businesses with 300 or less employees that are eligible for regular SBA 7(a) loans  \n2. Businesses that have used or will use the full amount of the First Draw PPP Loan on or before the date the Second Draw PPP Loan disbursement  \n3. Businesses that can demonstrate at least 25% reduction of gross receipts when comparing any quarter in 2020 from the same quarter in 2019 (or on annual basis in 2020 from 2019)  \nThe following groups are not eligible for a Second Draw PPP Loan:  \n1. Business Concerns or entities primarily engaged in political or lobbying activities  \n2. Certain entities organized under the laws of the People’s Republic of China or the Special Administrative Region of Hong Kong, or with other specified ties to the People’s Republic of China or the Special Administrative Region of Hong Kong  \n3. A person or entity that receives a grant for shuttered venue operators under section 324 of the Economic Aid Act  \n4. A publicly traded company  \nRequired Documentation to demonstrate a revenue reduction of 25% : Such documentation may include relevant tax forms including annual tax returns, or, if relevant tax forms are unavailable, quarterly financial statements or bank statements. For loans of $150,000 or less, such documentation is not required at the time of application but must be submitted before the borrower applies for loan forgiveness.  \nDocument List: PPP borrowers must provide payroll records, payroll tax filings, Form 1099-MISC, Schedule C or F, income and expenses from a sole proprietorship, or bank records. A payroll statement or similar documentation from the pay period that covered February 15, 2020 must be provided. Payroll cost documentation will not be required if the applicant will use the same 2019 figures that were submitted to Bank of Hope during the first round.","cbCaiuoYB6GDGmmd","https://ap.wps.com/l/cbCaiuoYB6GDGmmd","pdf",112074,"English","# Key eligibility and deadlines\n## Application deadline and SBA approval requirement\n# Loan amount, term, and forgiveness basics\n## Maximum loan amount and term\n## Eligible uses and forgiveness spending thresholds\n# Covered and deferral periods\n## Covered period options\n## Loan deferral and forgiveness submission timing\n# Eligibility and ineligibility criteria\n## Eligible applicant groups\n## Ineligible applicant groups\n# Documentation requirements\n## Revenue reduction support\n## Required documentation and records","[{\"question\":\"Who is eligible to apply for a Second Draw PPP loan?\",\"answer\":\"Eligible applicants are businesses that previously received a PPP loan and meet specific criteria, including having 300 or fewer employees eligible for SBA 7(a) and demonstrating at least a 25% reduction in gross receipts in 2020 versus the same quarter in 2019 (or on an annual basis).\"},{\"question\":\"What is the maximum Second Draw PPP loan amount?\",\"answer\":\"The maximum loan amount is 2.5 times average monthly payroll costs (using 2019 or 2020) or $2 million, whichever is less. NAICS code 72 businesses may borrow up to 3.5 times average monthly payroll costs or $2 million, whichever is less.\"},{\"question\":\"What spending is required for full loan forgiveness?\",\"answer\":\"Loan proceeds must be spent on payroll costs and other eligible expenses such as rent, mortgage interest, utilities, operations expenditures, and worker protection expenditures. At least 60% of the proceeds must be spent on payroll costs to receive full forgiveness.\"},{\"question\":\"What documents are needed to demonstrate the 25% revenue reduction?\",\"answer\":\"Acceptable documentation may include relevant tax forms (including annual tax returns) or, if unavailable, quarterly financial statements or bank statements. For loans of $150,000 or less, documentation is not required at application time but must be submitted before applying for loan forgiveness.\"}]","Second Draw PPP Loan Guidelines | PDF"]