PPP Loans for Small Businesses
This is the second round of PPP loans for small businesses
The small business community has been hit really hard this past year.
And that has prompted #Congress to pass the second round of Payroll Protection Program (PPP) loans package.
The “window” to apply for a second #PPP loan will close on March 31, 2021.
(Earlier if the funds run out.)
Business owners need to get busy.
Start getting together the necessary #documentation.
The #requirements to qualify for a PPP loan include:
* 25% (or more) reduction in gross receipts (2020 compared to 2019)
The drop can be annual; or for any 2020 quarter compared with same quarter in 2019
* The business has 300 #employees or less
* The #business is operational
(You can get the PPP loan even if you had to temporarily close.
Key word here: temporarily. Not permanently.)
Thanks for visiting.
Leave a ReplyWant to join the discussion?
Feel free to contribute!