HartfordBusiness.com | January 25, 2021 | Hartford Business Journal 25
MEMBER FDIC EQUAL HOUSING LENDER NMLS #459028
We're here and ready
for local businesses.
We're pleased that we are now accepting applications for the next round of Paycheck
Protection Program (PPP) loans from businesses in Connecticut and the following counties
in Massachusetts: Berkshire County, Franklin County, Hampden County and Hampshire
County.
Please visit liberty-bank.com for information about PPP Loans and how to access and
complete an online PPP application for your business. There are SBA requirements for PPP
loan eligibility which include but are not limited to:
First Draw Eligibility Requirements:
y Employ no more than 500 employees, unless applicant meets SBA size standards
for their industry
y Were in operation on February 15, 2020
y Did not receive a PPP loan in 2020
Second Draw Eligibility Requirements:
y Employ no more than 300 employees
y Demonstrate at least a 25% reduction in gross receipts in any quarter of 2020 relative
to the same quarter in 2019
y Have used or will use first PPP loan funds by the time the second loan is disbursed
y Were in operation on February 15, 2020
Also, we encourage you to apply as soon as possible and well before March 17, 2021 to allow
time for processing before the March 31st SBA submission deadline.
Just like we did for businesses who applied through us for PPP funding in 2020, our team
stands ready to help you navigate every phase of the program.
