2nd Round PPP (Paycheck Protection Program)
SBA (Small Business Administration) announced that the 2nd round of the Paycheck Protection Program (PPP) starting Jan 11, 2021 this week. The major banks and lenders who facilitate PPP will start taking applications this week or next week.
You can apply to the same lender that you received the first PPP or any qualified banks near you. Or I can help you to apply online directly. There is no fee on PPP.
-PPP Loan Amount: average monthly payroll X 2.5, X 3.5 for restaurants
-Forgivable loan if you use it for payroll and rent
<Qualifications for 2nd Round>
-No more than 300 employees
-Proof of over 25% reduction in revenue from 2019
-More detail info on PPP, click the link for the SBA website,
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
