Similar to the first round of PPP loans, eligible spending must be comprised of at least 60% on payroll costs (compensation, health, retirement, and state and local payroll taxes) over a Covered Period of either 8 or 24 weeks.
In addition to those expenses that were eligible under the previous round, this round the PPP loan can also be used to pay the following expenses:
· Covered operations including software, cloud computing, human resources & accounting needs
· Property damage caused by public disturbances that occurred in 2020 that were not covered by insurance
· Covered supplier costs
· Covered worker protection expenditures as determined by the state government, the CDC, OSHA & HHS.