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The original item was published from 3/23/2021 10:52:49 AM to 4/2/2021 12:00:02 AM.

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Economic & Community Development News

Posted on: March 23, 2021

[ARCHIVED] 03/23/21: PPP Loan Second Draw Deadline is March 31, 2021

Trumbull Economic Development

Second Draw PPP loan deadline is March 31

The Paycheck Protection Program ends on March 31, 2021. All eligible entities can apply through a participating lender until then.

Loan details:

PPP now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP loan with the same general loan terms as their First Draw PPP loan. 

Second Draw PPP loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.

Maximum loan amount and increased assistance for accommodation and food services businesses. Read More

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