12/30/2020
Paycheck Protection Program opens up again in January-possibly mid month. Regardless, some vendors are opening up their applications to be ready as the funds will run out. Lendio appears to be taking applications now. The criteria is described below:
Divide gross receipts up into quarters. Compare last year and this year to see if there was at least a 25% decline this year over last year for any of the quarters. Please see the wording below:
1. Had gross receipts during the first, second, third, or, only with respect to an application submitted on or after January 1, 2021, fourth quarter in 2020 that demonstrate not less than a 25 percent reduction from the gross receipts of the entity during the same quarter in 2019.