The CRRSAA created the chance of enterprises and nonprofits to apply for the second PPP financing if they see certain standards. The second-draw financing are more specific than novice PPP debts, and to meet the requirements, people must 1) posses earlier obtained a PPP loan and utilized the complete quantity just for authorized uses; 2) posses less than 300 workforce; and 3) had a 25% decrease in gross invoices during one or more quarter of 2020 versus alike one-fourth of 2019. The maximum mortgage dimensions for the second PPP financing are $2 million versus ten dollars million for a first-time PPP financing. Furthermore, the SBA has established a hub on second-draw PPP financing that may be helpful.

For novice PPP debts, people and nonprofits normally can inquire a maximum amount borrowed of 2.5 hours the common www.badcreditloanshelp.net/payday-loans-ct/ month-to-month 2019 payroll. Insurance policies money can certainly be included in payroll bills. Continua a leggere →