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  1. www.sba.gov › second-draw-ppp-loanSecond Draw PPP loan | U.S. Small Business Administration

    PPP now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP loan with the same general loan terms as their First Draw PPP loan. Second Draw PPP loans can be used to help fund payroll costs, including benefits.

  2. www.plantemoran.com › explore-our-thinking › insightSecond Draw PPP Loan: Your top questions answered

    • Second Draw Loan Eligibility & Loan Application
    • Forgiveness of Second Draw Loan
    • Post-Forgiveness Application
    • Summary

    How is the 300-employee headcount determined when analyzing eligibility for Second Draw loans? The 300-employee count is based on headcount and not FTE. A borrower needs to include all domestic and foreign affiliates unless an affiliation waiver applies when calculating headcount. Hospitality businesses with a NAICS Code 72, eligible news organizat...

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    What is the safe harbor date to avoid any impact to loan forgiveness for a salary and wage decline or FTE reduction on a Second Draw loan? For any loan (First or Second Draw) made after Dec. 27, 2020, a borrower has until the last day of the loan’s covered period to restore any salary and wage and FTE decline in order to avoid a reduction in its lo...

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    How does the audit process work for First Draw PPP and if borrowers obtain a Second Draw loan, are the loans combined for the audit? The SBA may audit loans of any size anytime within the time frames discussed below. The SBA may audit the borrowers First Draw PPP Loan and Second Draw PPP Loan separately or at the same time. For individual loans of ...

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    Thank you for reviewing our frequently asked questions. Information contained within this document includes direct excerpts from Small Business Administration (SBA) guidance available here. In addition to this article we have additional discussions on the employee retention creditand previous articles on the PPP loans. If you have additional questi...

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    • Jess Stephen

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  4. home.treasury.gov › system › filesAs of July 29, 2021 - U.S. Department of the Treasury

    See “How to Calculate Maximum Loan Amounts for First Draw PPP Loans and What Documentation to Provide – by Business Type” (link) and “Second Draw Paycheck Protection Program (PPP) Loans: How to Calculate Revenue Reduction and Maximum Loan Amounts Including What Documentation to Provide” (link).

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  5. gusto.com › second-draw-ppp-application-processHow to Apply for a Second-Draw PPP Loan: Step-by-Step

    Mar 5, 2021 · Loan applications will remain open until May 31, 2021, but funding may run out before then, so get moving! If you’ve already borrowed a PPP loan from the first round, you may be eligible for a second-draw loan. We’ll walk you through the PPP loan application process, step-by-step here.

  6. www.midlandsb.com › sites › defaultPaycheck Protection Program Second Draw Borrower Application Form

    Business Administration (SBA) and the Department of the Treasury (Treasury) implementing Second Draw Paycheck Protection Program Loans under Division A, Title I of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Economic Aid to Hard-Hit Small

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