Seasonal Business Calculation

If my business is seasonal, will I be able to use more relevant and season-based data to determine PPP needs?

For seasonal businesses, a lender may consider that if the business was in operation on Feb 15 2020 or for an 8 week period between February 15 2019 – June 30 2019.

Linked here and pasted below is the text from the official question and answer document published by the Department of the Treasury on April 10, 2020, which you should reference:

https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf

Below is the official question from Q9 as of April 10, 2020

9. Question: My small business is a seasonal business whose activity increases from April to June. Considering activity from that period would be a more accurate reflection of my business’s operations. However, my small business was not fully ramped up on February 15, 2020. Am I still eligible?

Below is the official answer from Q9 as of April 10, 2020

Answer: In evaluating a borrower’s eligibility, a lender may consider whether a seasonal borrower was in operation on February 15, 2020 or for an 8-week period between February 15, 2019 and June 30, 2019.

You just learned about: Seasonal Business Calculation

For more information, check out this related resource: Funding a Business

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