Long Arrow Right External Link angle-right Search Times Spinner angle-left

Do I need to apply for forgiveness to take a second PPP loan?

No, if you took a PPP loan in the first round of funding, or you received your First Draw PPP loan in 2021, there is no requirement to apply for PPP forgiveness before applying for a Second Draw PPP loan. However, the Economic Aid Act does state that the business must have used all funds from the first PPP loan, or will have used those funds before they receive the funding for a second loan. Learn more about taking a Second Draw PPP loan with this related article.