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How to estimate the maximum amount to possess my personal PPP financing?
This new CRRSAA developed the chance for organizations and you may nonprofits to make use of getting the next PPP loan once they satisfy certain standards. The following-mark finance become more focused than simply very first-big date PPP funds, and be considered, companies have to 1) have received an effective PPP financing and you can made use of the full amount simply for subscribed spends; 2) has actually fewer than 300 staff; and 3) have seen a twenty five% loss in terrible receipts during a minumum of one one-fourth out of 2020 in place of a comparable one-fourth out of 2019. Maximum loan dimensions getting an extra PPP financing try $dos million in place of $ten billion to own a first-time PPP mortgage. As well, brand new SBA has established a center toward next-mark PPP funds that may be helpful.
Getting very first-date PPP finance, people and you may nonprofits generally is consult a maximum amount borrowed from 2.5 times the typical monthly 2019 payroll. Insurance policies money is used in payroll costs. This new SBA likewise has written an explainer to own very first-date PPP fund you to lines data for various type of people.
To have second-mark PPP funds, the most loan amount is actually determined since dos.five times average month-to-month 2019 or 2020 payroll charges for a great restriction of $dos mil. Continue reading ‘How to estimate the maximum amount to possess my personal PPP financing?’ »
