Hello all!

So the eagle has landed, the new round of PPP is ready to be disbursed.

WHO QUALIFIES?
Folks who did NOT get a first round of money, as well as Nonprofits and businesses impacted by Covid 19 with fewer than 300 employees. You must be able to demonstrate a reduction in income of 25% or more in any quarter in 2020 compared to the same quarter in 2019.

WHO IS LENDING? Larger banks are the ones I've seen opening up their applications. There will be alternate lenders as well, but best bet is to reach out to your bank and see if they can help right away.

HOW DO I KNOW IF I CAN APPLY? Reach out to your bookkeeper and ask them to analyze your reports for you. I have instructed the bookkeepers how to pull this information. Everything you provided for the first round of funding will likely be needed for round two as well (payroll forms for 2019, or a 1040 return to show income). When in doubt, reach out.

We continue to work through 1099s and wrapping up the year. We will begin working on 2020 tax returns in February.

In good health!
-Katie and the REVATX Team