How do i assess the absolute most to have my PPP financing?

How do i assess the absolute most to have my PPP financing?

This new CRRSAA developed the chance for enterprises and you may nonprofits to put on having a second PPP mortgage once they meet certain criteria. The following-draw funds be more focused than just earliest-day PPP fund, and qualify, organizations have to 1) have obtained a great PPP financing and utilized the complete count just for registered spends; 2) has actually fewer than 300 group; and step 3) had a 25% loss of disgusting receipts during at least one quarter out of 2020 in the place of the same quarter from 2019. The utmost loan dimensions getting a second PPP financing is actually $dos million instead of $ten million having a primary-time PPP mortgage. At exactly the same time, the new SBA has created a hub with the 2nd-mark PPP loans that can be helpful.

For first-time PPP funds, people and you will nonprofits essentially is also demand an optimum loan amount from dos.five times the common month-to-month 2019 payroll. Insurance money normally included in payroll costs. The newest SBA also offers composed a keen explainer getting very first-date PPP money that lines data for different particular enterprises.

To have next-draw PPP finance, maximum amount borrowed are calculated once the dos.5 times average month-to-month 2019 otherwise 2020 payroll prices for a restriction out of $2 mil. Continue reading “How do i assess the absolute most to have my PPP financing?”