SBA / Treasury FAQ – 9. My small business is a seasonal business. However, my small business was not fully ramped up on February 15, 2020. Am I still eligible?

Compliance > CARES Act
Q:  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?
 
A:  In evaluating a borrower’s eligibility, a lender may consider a seasonal borrower to have been in operation on February 15, 2020 if the business was in operation for any 12-week period between February 15, 2019 and February 15, 2020
 
 
 

This Q&A was based on information contained in the Treasury Department’s March 12, 2021, version of “Paycheck Protection Program Loans, Frequently Asked Questions,” which is updated from time to time.  This CARES Act / SBA / PPP related issuance may be found here:  https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf

 

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