How to estimate the absolute most to possess my personal PPP financing?
The new CRRSAA developed the chance for organizations and you may nonprofits to put on to own a second PPP financing if they fulfill specific standards. Another-draw financing become more directed than simply very first-date PPP finance, and meet the requirements, organizations need certainly to step one) have gotten a PPP payday loan store Fredericksburg Ohio mortgage and you can utilized the full amount just for registered spends; 2) enjoys under 3 hundred employees; and you will 3) experienced a 25% lack of terrible invoices through the at least one quarter out-of 2020 as opposed to a comparable one-fourth out of 2019. The maximum loan proportions to own a second PPP financing is $dos billion as opposed to $10 billion having an initial-big date PPP loan. On the other hand, the fresh new SBA has created a center on second-draw PPP money that can be useful.
Getting very first-go out PPP fund, organizations and you will nonprofits generally is also consult a maximum amount borrowed away from 2.five times the typical month-to-month 2019 payroll. Read More
