PPP2 and ERTC Loan Qualifications

Tell us how Wipfli can help put stimulus funding to work for you.

Fill out the form below to let us know how you meet the qualifications and how we can reach you. This is not a loan application, but a way to gather information to prepare to work together.

PPP loans

I am a return borrower who meets these criteria

If you received a PPP loan last year, you may apply for another loan of up to $2 million if you:

  • Have 300 or fewer employees; and
  • Used the full amount of your first PPP loan (or will soon use the remainder); and
  • Can show that your business experienced a 25% decline in gross receipts in any 2020 quarter compared to that same quarter in 2019.

I am a first-time borrower who meets these criteria

If you’re a first-time borrower, you are eligible for a PPP loan if you are:

  • A business with 500 or fewer employees; or
  • A sole proprietor, independent contractor or self-employed individual; or
  • An accommodation or food services operation (i.e., you have an NAICS code starting with 72) and you have fewer than 300 employees per physical location; or
  • A nonprofit (this includes religious institutions).

Employee retention tax credit

Even if you don’t qualify for a PPP loan, you may qualify for the employee retention tax credit (ERTC) for either or both the 2020 and/or 2021 tax years. In general, you are eligible for the ERC if your business:

  • Was fully or partially suspended due to orders from an appropriate governmental authority limiting commerce, travel or group meetings due to COVID-19; or
  • Has 2020 gross receipts for at least one calendar quarter that are less than 50% of the gross receipts received during the same calendar quarter(s) in 2019 (and/or less than 80% in 2021).

COVID-19 resource center
Insights to help you respond to and recover from coronavirus fallout.
Learn more