PPP Loan Forgiveness Revenue Reduction How to + Template

PPP.REVENUE.REDUCTION1

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Your business had a reduction in sales, commissions, or income (Gross Receipts) of 25% or greater during one or more of the following time periods:

o First Quarter 2019 vs 2020 (January 1st to March 31st ).

o Second Quarter 2019 vs 2020 (April 1st to June 30th).

o Third Quarter 2019 vs 2020 (July 1st to September 30th).

o Fourth Quarter 2019 vs 2020 (October 1st to December 31st).

o The full year of 2019 vs the full year of 2020.

o If your business was started in late 2019 or early 2020, and the timeframes outlined above are not applicable to your business, please contact your lender directly.