New rules in latest round of PPP

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1.New rules in latest round of PPP

While this latest Interim Final Rule addressing the PPP loans still required borrowers to provide documentation, such as a payroll provider report, it offers a new, simplified form and a “check the…

2.New rules in latest round of PPP

If you got a PPP loan in the first round, you can get a “second draw” PPP loan, provided your business does not employ more than 300 employees, has used or will use the full amount of the first PPP, and can demonstrate at least a 25 percent reduction in gross receipts in the first, second, or third quarter of 2020 relative to the same quarter in 2019.

3.New rules in latest round of PPP

This second round of funding, however, is capped at $2 million per borrower rather than $10 million under the initial round of PPP loans in the CARES Act. For borrowers who received a PPP loan…

4.New rules in latest round of PPP

A $900 billion Covid-19 recovery stimulus bill is now on the desk of President Donald Trump, who is expected to sign it within hours. The bill includes a new round of Paycheck Protection Program …

5.New rules in latest round of PPP

PPP borrowers may receive a loan amount of up to 2.5 times their average monthly payroll costs in the year prior to the loan or the calendar year, the same as with PPP1, but the maximum loan amount has been cut from $10 million in the first round to the previously mentioned $2 million maximum.

6.New rules in latest round of PPP

Also, the government is making it easier to forgive those loans. But, stricter eligibility rules are in place to qualify for this one. The rules say your business must employ less than 300 people and be able to demonstrate a drop in sales of at least 25% during at least one quarter of 2020 compared to 2019.

7.New rules in latest round of PPP

McCracken is with the National Small Business Association and explained this latest round of PPP loans has new provisions. The provisions were added to ensure the new money actually goes to more …

8.New rules in latest round of PPP

Under the new Republican plan, a second round of PPP loans will be made available to struggling businesses, but with a couple of key changes: Loans are limited to businesses with 300 employees or…

9.New rules in latest round of PPP

New stimulus proposal grants a second round of PPP loans for hard-hit businesses Published Thu, Oct 1 2020 2:19 PM EDT Updated Fri, Oct 2 2020 3:25 PM EDT Darla Mercado, CFP® @darla_mercado

10.New rules in latest round of PPP

Completing the forgiveness process will make the next round of PPP significantly easier for everyone involved. Keep the rules the same. The first round of PPP deployed fast and was adjusted on the …

News results

1.Bankers anticipate interest in new round of PPP loans with different rules

Loans under the PPP are designed to stimulate the economy and maintain jobs, and if they do that, the loans can be forgiven. “It is going to be harder to qualify, and it will be more limited,” said Steve Fleming,

Published Date: 2021-01-06T12:35:00.0000000Z

2.Another round of PPP is coming. Here’s how bankers say you can get a loan.

Small businesses that plan to apply for another Paycheck Protection Program loan should contact their bankers now, even though it could be weeks until local financial institutions begin accepting applications for the next round of the federal relief program.

Published Date: 2020-12-29T19:05:00.0000000Z

1  PPP Update 8 27 20: Second Round PPP Loans EIDL New Forgiveness Rules
PPP Updates from the SBA come out often to clear up confusion in the PPP loans as well as the EIDL. As they run into problems it appears as they fix them. It’s a work in process for the SBA’s awesome EIDL and PPP loans. p 0 GET FREE MONEY NOW! OPEN AN ACCOUNT IN WEBULL AND GET A FREE STOCK!!!!!! On August 24th, the SBA …
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