The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced that the Paycheck Protection Program (PPP) will re-open the week of January 11th for new borrowers and certain existing PPP borrowers. 501c6 organizations and DMOs may be eligible for this round of the Payroll Protection Program.
Key PPP updates include:
- PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs;
- PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
- The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, destination marketing organizations, among other types of organizations;
- The PPP provides greater flexibility for seasonal employees;
- Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and
- Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.
A borrower is generally eligible for a Second Draw PPP Loan if the borrower:
- Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
- Has no more than 300 employees; and
- Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.
Paycheck Protection Program (PPP) Application Checklist
Below are the documents or information you will need available to complete the PPP application process:
- Completed PPP Application From
- 2019 Proof of Payroll Costs
- Electronic Funds Transfer Instructions & Information
- Average monthly payroll costs
- These averages can be from 2019 or the past 12-months at your decision.
- Proof of Business Operation and Status of Active
- This varies by state, so; please check with your local officials on your state’s regulations.
- Proof of Ownership – which includes:
- Tax Payer ID numbers (TIN)
- Employer Identification Number (EIN)
- Government issue identification from all owners
- Personal contact information, including valid email addresses, for all owners.
Orange142 Continues Media Match Program to Further Assist Destination Marketing Partners
With this announcement that previously ineligible DMOs can now take part in the PPP as well many organizations being eligible for a second draw PPP loan, Orange142 will be continuing our media match program.
In an effort to assist DMOs with recovery, Orange142 will be offering a 50% match on media programs launched in 2021. These programs can leverage the Orange142 Data Management Platform to limit wasted ad spend and ensure only the most engaged and relevant audiences are reached with ad messaging and spur travel throughout 2021.
Media programs can be targeted to leisure travels in drive markets, direct flight markets and local staycationers. Additionally, Orange142 has a robust database of corporate, association, faith, and sports planners for convention and meeting planner awareness marketing outreach.
Contact Orange142 today to learn more about our media match program.
Direct link to the announcement on the Small Business Administration Website.