Small businesses hit hardest by the coronavirus pandemic can soon receive a second forgivable loan under the newly revived Paycheck Protection Program. Congress designated $137 billion for “second-draw” loans as part of a larger funding and relief package. The bill, signed into law on Dec. 27, includes a total of $284.5 billion for PPP loans. Businesses that need help beyond their initial loan will be able to apply for a second loan, provided they can show substantial revenue decline and meet other requirements.

Join presenters from Eastern Bank & People’s United Bank as they discuss what it takes to qualify. Do not miss your chance to take advantage of another round of PPP loans.

Presenters:

David Galla, Vice President, Business Banking, People’s United Bank

Patrick Lorent, SVP, Commercial Division, SBA Lending, People’s United Bank

Charles Smith, Senior Vice President, SBA Program Manager, Eastern Bank