Round 2 of PPP; Vaccine Allocation Update

The U.S. Small Business Administration, in consultation with the Treasury Department, is announcing the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13.  The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.

This round of the PPP authorizes up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.

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.

Complete details can be found here:

• PPP Guidance from SBA Administrator Carranza on Accessing Capital for Minority, Underserved, Veteran, and Women-owned Business Concerns;
• Interim Final Rule on Paycheck Protection Program as Amended by Economic Aid Act; and
• Interim Final Rule on Second Draw PPP Loans.

In collaboration with the West Virginia Joint Interagency Task Force (JIATF), GO-WV is providing this one-page document that gives an updated overview and summary of the process for vaccine allocation and registration for priority groups in overlapping Phases 1A-D.  We ask that you read and share with your workers.

While several factors guide the state’s decision-making on the overlapping phased approach for vaccine distribution, the decision making for allocating the limited supplies of vaccines include protecting the most vulnerable, reducing hospitalizations, reducing the rate of deaths, and ensuring the state and local communities can maintain critical services including our acute healthcare system.

The pandemic leadership for the State of West Virginia understands the vital role oil and natural gas workers play in maintaining our economy and the critical functions that keep West Virginia going.  As additional quantities of the vaccine increase over the coming months, the JIATF Group will be able to reach more individuals through this pathway to community immunity.  Frequently asked questions and information on the phases of vaccine distribution, are available at vaccinate.wv.gov.

Assistance on questions or additional information,  can be made through Sherrie Stone, Office of the Adjutant General, Joint Interagency Task Force Group at: sherrie.l.stone.nfg@mail.mil.

HERE, you will find an Excel spreadsheet (survey) provided by the Adjutant General’s office.  The information you provide on this spreadsheet will identify workers in two categories – those considered “critically essential” (regardless of age) and those considered “non-critical” but over 50 years of age.