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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