Paycheck Protection Program (PPP) Update

By WV UMC Admin

As of January 11, 2021, the first round of PPP loan requests has been reopened, and applications can be submitted through approved lenders. Moreover, as of January 13, 2021, a second round of applications is being accepted for Second Draw PPP Loans.

A link to the U.S. Small Business Administration (SBA) page announcing these actions is copied below. An additional hurdle of the second draw is that the applicant must demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.

Applications for the second draw can be submitted until funds expire or March 31, 2021. Please contact an approved lender to apply for a PPP loan, and notify your District Superintendent if you accept a PPP loan.