Second-Time PPP Borrower Resources

 

Government resources: 

Update: In order to reach the smallest businesses, from Wednesday, February 24 – Wednesday, March 9, 2021, the SBA will only accept PPP loans for businesses and nonprofits with fewer than 20 employees. Additional program changes have been announced.

  • If your business has 1 - 19 employees, please proceed with your application! New federal guidelines are also available for sole proprietors, independent contractors, and self-employed individuals.
  • If your business has 20 or more employees, you may submit your PPP loan application via our online portal and we can help ensure it is ready to be sent for processing to the SBA starting on March 10.

General:

Second-time PPP borrowers: 

Tip: The SBA requires your signature on certain documentation. You will need to arrange signing the necessary documents and uploading them digitally: 

  1. All financial statements showing the revenue loss must have the first page signed and dated by you as well as subsequent pages initialed.
  2. All draft copies of 2020 tax returns that have not been filed must be signed and dated.

In addition, all bank statement must have deposits annotated that they are constituted as gross receipts and which are not.

 

Eastern Bank resources:

  • For your convenience, our dedicated PPP inquiry e-mail address is staffed during business hours by bankers who can assist with questions. E-mail us at: PPPupdate@easternbank.com.
  • We’ve also rolled out a free financial assistant called Monit that can help track expenses related to PPP. To learn more, click here.
     

The information provided is intended for informational use only and is subject to change.