New Round of PPP Loan Funding
The SBA issued new guidance on January 6, 2021 for what are now called PPP Second Draw loans. In general, most borrowers who received a loan under the original CARES act may be eligible to receive a second loan if they can demonstrate that their gross revenues for any calendar quarter in 2020 were at least 25% less than the same quarter in 2019.
The amount of the loan will be calculated in the same manner that the first loan you received was calculated. In general, this will be 2.5 times your average monthly payroll during 2019. If you choose, you may use 2020 payroll data to calculate your loan amount. If you choose 2020, you will be required to provide 2020 payroll records to support your loan request. There is an important change in this round for accommodation and food service businesses who may apply for a loan that is 3.5 times their 2019 or 2020 average payroll.
Current T Bank PPP Loan Customers
If you are a current T Bank PPP loan customer and meet the above eligibility requirement, you can
Need Your SBA Loan Number?
Current PPP loan customers can request their SBA loan number for their first draw PPP loan by e-mailing us at email@example.com
If you do not currently have a PPP loan with us, send an e-mail to firstname.lastname@example.org and request an invitation to apply for a PPP loan. Include the business name and the e-mail address for the responsible person who is entitled to sign an application on behalf of the business.
We look forward to continuing to serve you in these very trying times!