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  • MEMBERSHIP
    • Our Members
    • Member Benefits
    • Membership Dues
    • Apply for Membership
    • Member Spotlight Form
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    • Hiring With Career Plug
    • Job Board
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    • Upcoming Events
    • SEAA Convention & Trade Show
    • Trade Show Exhibitor Info
    • GOLF TOURNAMENTS >
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      • George Pocock Memorial Golf Tournament
    • Career Fair
    • Meetings
    • Webinar Registration
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      • Project of the Year
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    • Steel Strong!
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Second round of payroll protection plan (ppp) loans opened

1/26/2021

 
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The second round of the Payroll Protection Plan (PPP) loans opened on January 11, 2021. The U.S. Small Business Administrations (SBA) and the U.S. Department of Treasury released the final guidance for first time applications, and stronger stipulations for second time borrowers.  

Forgivable PPP loans require that 60 percent of the loan pay employees & wages and 40 percent is used for rent, utilities, mortgage interest payments and other expenses.  

First time applicants can apply for loan coverage for any length between 8 and 24 weeks. Among the other business-related expenses that can be covered by the loan are supplier costs and property damage.  

Second time borrowers must have fewer than 300 employers, and must prove that they suffered at least a 25 percent drop in gross receipts between comparable quarters in 2019 and 2020.


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Steel Erectors Association of America 
353 Jonestown Rd
Suite 207
Winston-Salem,  NC 27104
Phone: (336) 294-8880
info@seaa.net
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