CARES (Coronavirus Aid, Relief, and Economic Security) Act:
In consultation with the U.S. Treasury Department, the SBA has reopened the Paycheck Protection Program (PPP) for First & Second Draw of PPP Loans. The program is currently opened to a number of lenders but will be opened to all lenders on January 19, 2021.
At least $25 billion has been set aside for Second Draw PPP Loans to eligible borrowers with a maximum of 10 employees or for loans of $250,000 or less to eligible borrowers in low or moderate income neighborhoods.
Who may qualify?
Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses
Has no more than 300 employees; and
Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020
How to apply?
To ensure that small businesses and people of color are able to take part in this program, Blue Dolphin Capital is working directly with our Lender Partner to ensure that your application is submitted properly and meets the SBA requirements.
Please complete the Contact Form listed below and click the 'submit" button. Once completed, you will be directed a secure link to start your application. Click on the red link to be directed to the lenders online portal to complete your application.
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