PPP Round 2 Application UPDATED 1/20 [Self Employed, 1099, & Small Business]
From YouTube Channel: January 10, 2021 at 10:45AM
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Paycheck protection round 2 UPDATED application is now on the SBA site. Let’s cover the new PPP application, who gets the second PPP first, How to apply for PPP 2, and documents needed for second PPP loan.
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Congress has approved $284 billion for another round of PPP loans. PPP loans are forgivable loans meant to go to small businesses to keep their employees hired.
In order to get a PPP loan forgiven.. Meaning the ability to have to loan balance wiped out without having to pay it back you have to spend it on specific items.
Applicable expenses are:
Gross salary, wages, tips, and commissions to employees or yourself if you’re self employed
Paid Leave (any paid leave that isn’t covered by the Families First Coronavirus Response Act)
Employee Benefits Costs
And Rent or Mortgage Expenses
Supplies from Vendors
Property Damage Due to Public Disturbances
If you received a loan the first round you may be able to dip again this second round if you hit a few criteria.
Show a 25% reduction in revenue
Your company can not have over 300 employees..
Your business must have already spent the first round or must plan to use it.
SBA PPP Round 2 Application / PPP Second Draw Borrower Application
In this video I will show you step by step how to fill out the PPP round 2 application properly so you can get funding as soon as possible.
PPP 2 start date
PPP 2 application link
When can I get PPP round 2?
Is PPP 2 available?
How to apply PPP round 2?
0:00 What you can expect with this video
2:03 PPP news & Important dates you need to know
4:00 Getting a lender in place
4:42 Application step-by-step
16:20 Documents you need alongside the application
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