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SBA and Treasury Announce PPP Re-Opening

The Treasury Department and Small Business Administration have announced that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. First Draw PPP Loans begin Monday, January 11, and Second Draw PPP Loans begin on Wednesday, January 13. Full press release here.


As in 2020, Tree City Advisors is coordinating with CapEd Credit Union to facilitate PPP loans for small businesses in our community. The process will be similar to the last time. Requirements for previous recipients are: no more than 300 employees; and businesses must demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020 (the quarter is yours to choose).



Key PPP updates include:

  • PPP borrowers can set their PPP Loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs;

  • PPP Loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;

  • The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations;

  • The PPP provides greater flexibility for seasonal employees;

  • Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and

  • Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.


A borrower is generally eligible for a Second Draw PPP Loan if the borrower:

  • 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.


We are proud to serve our community and endeavor to assist small businesses in this extended period of turmoil. Your continued success is a victory for all Americans.


Regular updates will be available on this blog.


If you are a new applicant, you may contact us beginning Monday, January 11th. If you are a returning applicant, you may contact us beginning Wednesday, January 13th.


Thank you,

Tree City Advisors



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