PPP Round 2 is here!

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PPP 2 Eligibility

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• Business must have less than 300 employees

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• Business must be able to show a 25% decline in income for any Quarter in 2020 compared to the same Quarter in 2019

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• Business types include, Sole Proprietors, Self-Employed, LLC, Corporations, Partnerships, Not for Profits.

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• Loans are based on the average number of employees per pay period for the previous 12 months

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• PPP loans will be generally 2.5 times the average monthly payroll, subject to a maximum of $2,000,000

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• PPP loans of 3.5 times the average monthly payroll (capped at $2,000,000) is available to businesses whose NAICS code starts with 72; hotels, casinos, food service contractors, caterers, restaurants, see NAICS lookup for more information.

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• Employees are both part-time and full-time employees and can also be agency staff you employ.

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Download SBA Form 2483-SD

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What You Need to Apply

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• Copy of Photo ID for all owners who own 20% of the business or more (Driver's License front & back copy)

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• 2019 and 2020 Profit & Loss Statements.

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• 2018 & 2019 Business Tax Returns

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•  For partnerships – include IRS Form 1065 and Schedule K-1

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• For sole proprietors – include IRS Form 1040 Schedule C​​​

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• Form 941: Employer’s Quarterly Federal Tax Return for 2019 & 2020

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• Form 940:  2019 & 2020

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• First Round PPP Loan # & Amount

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