How do i estimate the most to possess my personal PPP loan?
The CRRSAA developed the chance of enterprises and you can nonprofits to use for the next PPP financing once they fulfill particular requirements. The second-draw money are more directed than just very first-time PPP fund, in order to qualify, people have to 1) have previously received a PPP loan and you may used the full matter just for registered spends; 2) keeps under 3 hundred staff; and step 3) have acquired a twenty five% losing disgusting receipts during at least one quarter from 2020 as opposed to the same one-fourth out-of 2019. The maximum financing proportions having an extra PPP financing is actually $dos mil as opposed to $ten billion to own an initial-date PPP loan. While doing so, new SBA has established a hub into 2nd-draw PPP money that may be beneficial.
To have very first-time PPP financing, enterprises and nonprofits basically is also request a max amount borrowed out of dos.5 times the common month-to-month 2019 payroll.