New “Second Draw” PPP Loans Under the Economic Aid Act for the Self-Employed/Sole Proprietors
Burr Forman
JANUARY 20, 2021
You must have experienced a revenue reduction of 25% or more in 2020 compared to 2019. For this purpose, you must compare your quarterly gross receipts/sales for any quarter in 2020 with the gross receipts for the same quarter in 2019. You can also qualify if your total 2020 gross receipts are less than your total 2019 gross receipts.
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