Paycheck protection loans round two: what Montana business owners should know

BILLINGS — Applications are open for Montana business owners to receive a second round of Paycheck Protection Program loans from the U.S. Small Business Administration, with a few more caveats in the application for second-time borrowers this go-around, said Kevin Kraft, president of the Shiloh branch of Yellowstone Bank Sunday.

“The biggest difference is you have to show a 25 percent reduction in gross revenues from one of the quarters last year (2020) compared to the prior year (2019). So, not all businesses will qualify this time, because you have to show a gross reduction in revenues,” Kraft said.