NNA MEMBER ALERT: SBA releases application for second PPP loans

Tonda Rush

Jan 11, 2021

The Small Business Administration has released the short form application for second-draw Paycheck Protection Program loans. The form can be found on the SBA website here. 

To be eligible, businesses must have taken a first-loan in 2020 under the CARES Act, have fewer than 300 employees (unless they are part of a large group covered by the affiliate rule) and have lost at least 25% in gross receipts in any quarter of 2020, compared to the same quarter in 2019.

For loans under $150,000, businesses do not need to provide documentation of the gross receipts loss to lenders until they are ready to request forgiveness of the loan.

Applications may be submitted through March 31, 2021.

NNA is the oldest national organization for community newspapers across the United States, with members in all 50 states.