Your business may be eligible for PPP loans through ACAP and The Loan Source if it meets the below criteria:
You must employ 300 or fewer employees
You must demonstrate at least a 25% reduction in gross receipts in any quarter of 2020 compared to the same quarter in 2019. Example, Q3 2020 revenue less than Q3 2019 revenue by 25% or more
You may choose the quarters for comparison but must be the same quarter of 2020 and 2019. Certain exceptions may be allowed for newer businesses, not in operation for all of 2019
- Be prepared to support the application with financial statements, tax return information, other financial records, or your attestation
Business has used or will use the full amount of the first PPP loan
To apply for a PPP loan through ACAP and The Loan Source, visit the application page.