Paycheck Protection Program

Important Updates Regarding the Paycheck Protection Program

At this time, we are only accepting Second Draw PPP loan applications from members who received their initial PPP loan from Nusenda.

Nusenda recognizes the critical role of our small business members both in our community and to your employees. We are sharing this information in an effort to help you prepare to apply for a Second Draw PPP Loan. Please note that this is based solely on Nusenda’s interpretation of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Act) and is subject to change based on forthcoming guidance from the U.S. Department of Treasury and the U.S. Small Business Administration (SBA). Due to the rapid pace of these changes and impending guidance, Nusenda makes no representation regarding this information. We encourage all business members to visit these resources for updates as the Interim Final Rules are published.

Please see our Paycheck Protection Program Loan Forgiveness Information for details on how this legislation impacts forgiveness applications.

PPP Second Draw Loans


Any small business that received a PPP loan from Nusenda will be eligible to apply with us for a Second Draw PPP Loan if they meet the following requirements:

  • Your business has 300 employees or less (Note: this requirement previously included businesses of up to 500 employees)
  • Your business experienced a 25% or greater decline in revenues (or gross receipts) in any quarter of 2020 as compared to the same quarter in 2019. (For businesses formed between June 30, 2019 and February 15, 2020 — alternate revenue tests apply)
  • Your business already received a PPP loan, and you have used, or will use, the full amount of your prior PPP loan.

For loans of $150,000 or less: you do not have to provide documentation of the 25% revenue decline when you apply; however, this documentation will be required at the time you submit your Forgiveness Application.

Businesses applying for the new Shuttered Venue Operator grants may not also apply for a Second Draw PPP Loan. This is a new program under the Act that will be administered directly by the SBA and targets movie theaters, museums, live performing arts, and related businesses.

Loan Amount

Loan amounts will generally be the same amount as your initial PPP Loan — calculated as 2.5 times your average monthly payroll costs.

Accommodations and Food Services Businesses (NAICS Code 72): Any business meeting this classification is eligible for a loan amount of 3.5 times your average monthly payroll costs. This is equivalent to your initial PPP loan plus an additional 40% (e.g. if your initial PPP loan was approved for $100,000, your Second Draw PPP Loan would be in the amount of $140,000).

All loans are subject to maximum eligible loan amount of $2 million.

Applying Based on 2020 Payroll

If you elect to use your 2020 payroll to determine your Second Draw PPP loan amount, please upload the following with your application:

For Businesses with Employees:

  • 941 Payroll Tax Filing for Q1, Q2, Q3, and Q4 of 2020.
  • 2020 Financial Statement and Payroll Ledger including detail of other payroll costs.
  • Schedule of employees earning over $100,000 on an annualized basis.

For Sole Proprietors, Independent Contractors, and Employers Claiming Self-Employment Earnings:

  • 2020 federal tax return Form 1040 Schedule C or Form 1065 Schedule K-1 that you intend to file.
  • All 2020 Forms 1099-MISC (if applicable).

Trailing 12-Month Applications

If your original application was based on a trailing 12-month period ending March 31, 2020, you must elect to apply based on either the 2019 calendar year or 2020 calendar year. To recalculate your loan based on the 2019 calendar year please upload the following with your application:

  • 941 Payroll Tax Filing for Q1 or 2019.
  • 2019 Financial Statement and Payroll Ledger including detail of other payroll costs.
  • Revised schedule of employees earning over $100,000 on an annualized basis.

Increases to Existing PPP Loan

If you did not take the full amount that you were eligible for on your initial PPP Loan, or would have qualified for more based on changes to SBA rules after you received your initial PPP Loan, please contact us at before submitting an application.

Changes to Eligible Expenses

The Act expands the use of PPP loan proceeds including additional eligible expenses. This does not remove the requirement that at least 60% of the loan proceeds must be used for Payroll Costs. The change is effective for all PPP loans that have not already been forgiven.

Payroll Costs

The Act clarifies that the definition of Payroll Costs includes:

  • "group life, disability, vision, or dental insurance"

Additional Eligible Expenses

Covered Operations Expense
Covered Property Damage Costs
Covered Supplier Costs
Covered Worker Protection Expenditures