Rural hospitals are now eligible for a second round of Payroll Protection Program (PPP) loans as authorized as part of the Consolidated Appropriations Act, 2021. The new program is open to both new and previous PPP recipients.
While many big banks have stated they will not be working with organizations on this second round of funding, StroudwaterGCL is available to assist you with your PPP applications. As StroudwaterGCL’s mission is to ensure rural communities have access to sufficient capital, we are offering PPP loans to ensure big bank decisions do not negatively impact your access to these important resources.
Our intuitive and automated application process will be entirely online and can be quickly submitted within an hour. This includes the application process, submission of required documents and all servicing follow-up. New applicants must meet SBA requirements found here. Funds can be used for payroll, rent, utilities, healthcare costs and other approved expenses.
- Hospital must have no more than 300 FTEs
- Hospital must have previously used the entire amount of first PPP loan or will use those amounts
- Hospitals must have gross receipts during Q1, Q2, or Q3 2020 that were at least 25 percent less than the gross receipts from the same quarter in 2019 (applicants may use Q4 2020 gross receipts if they apply after January 2021)