To PPP or not to PPP? That is the question.

January 19, 2021

What you need to know about this Economic Aid Act:    

January 11: Opening for those who have not received PPP loan yet (smaller community banks will get priority)

January 19: Opening up for second draw borrowers

March 31: Deadline to apply, unless exhausted funds prior to deadline  

Eligibility:   An applicant is generally eligible for a Second PPP Loan if the borrower: Was on operation on February 15, 2020; Previously received a PPP Loan (from M&T or another financial institution) and will or has used the full amount only for authorized uses by the date of disbursement of the Second PPP Loan; Has no more than 300 employees combined with affiliates (with some exceptions); and Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020; or if in operations for all of 2019, you may use annual gross receipts Has not nor plans to receive a Shuttered Venue grant*Additional eligibility requirements apply  

Max Loan Amount & Term:   2.5X average monthly payroll, up to $2 million ($4 million corporate group cap)3.5X average monthly payroll for Accommodations & Food Services loans (NAICS code 72), up to $2 million5-year term  

Eligible Expenses:   Payroll costs Business rent & lease agreements Business mortgage interest Business utility payments Covered operational expenditures Covered personal protective equipment (PPE) expenses Covered property damage expenses Covered supplier expenditures  

Loan Forgiveness:   May be eligible for loan forgiveness if proceeds are used on payroll and other eligible business expenses; Employee and compensation levels are maintained; and Minimum of 60% must be used on payroll costs   At Campbell & Company, our core values focus on putting people first and doing what’s right. Our top priority is the well-being of our clients and their families, team members and communities we serve. We can offer our assistance in processing loan applications, and are here to answer any questions you may have regarding funding and forgiveness. Please feel free to reach out by phone or email. (352) 683-7365. 

*_Important Disclosures Regarding Email Communications_* Advisory services through Market Guard,a SEC Registered Investment Advisor. “Campbell and Company, Wealth Advisors and Certified Public Accountants” and Market Guard are not affiliated. This Email is being sent by or on behalf of a Registered Investment Advisor. It is intended exclusively for the individual or entity to which it is addressed. This communication may contain information that is proprietary, privileged, or confidential, or otherwise legally exempt from disclosure. If you are not the named addressee, you are not authorized to read, print, retain, copy or disseminate the Email or any part of it. If you have received this Email in error, please notify the sender immediately by Email or fax, and destroy all copies of this communication. Please be advised that you may conduct securities transactions only by speaking directly with your Investment Advisor Representative either by phone or in person. Requests for securities transactions via email will not be executed by Market Guard. To help protect your privacy, we strongly suggest you avoid sending sensitive information, such as account numbers and social security numbers via Email. Please be further advised that, pursuant to the Bank Secrecy Act, the USA PATRIOT ACT, and similar laws, any communication in this email is subject to regulatory, supervisory, and law enforcement review.

MyCampbellandCo.com
(352) 683-7365
7211 Hiawatha Pkwy., Spring Hill, FL 34606
2400 Merchant Ave., Odessa, FL 33556
2202 Highway 44 W., Inverness, FL 34452

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