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1. www.sba.gov › document › sba-form-2483-sd-ppp-secondPPP Second Draw Borrower Application Form | U.S. Small ...

   www.sba.gov › document › sba-form-2483-sd-ppp-second

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   Mar 18, 2021 · Paycheck Protection Program Second Draw Loan Borrower Application Form. Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness. Download .pdf. File size: 591KB. Effective : March 18, 2021. Owned by : Office of Capital Access. OMB Control Number : 3245-0417.

2. home.treasury.gov › system › filesPaycheck Protection Program Second Draw Borrower Application Form

   home.treasury.gov › system › files

   Jan 8, 2021 · The Applicant is eligible to receive a loan under the rules in effect at the time this application is submitted that have been issued by the Small Business Administration (SBA) and the Department of the Treasury (Treasury) implementing Second Draw Paycheck Protection Program Loans

   • File Size: 490KB

   • Page Count: 6

3. People also ask

   What is a second draw PPP loan?

   • For purposes of this article and the Second Draw Rules, first round Paycheck Protection Program (“PPP”) Loans are “First Draw PPP Loans” and second round loans are “Second Draw PPP Loans.” Since the issuance of the Second Draw Rules, the SBA in consultation with the Department of the Treasury has released further guidance and forms.

   Economic Aid Act: 10 Things to Know about Second Draw PPP Loans

   www.schwabe.com/publication/10-things-to-know-about-second-draw-ppp-loans-as-updated-for-the-economic-aid-act-and-the-arp-act-updated-5-5-2021/

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   Does the SBA guarantee a second draw PPP loan?

   • The SBA will guarantee 100% of the Second Draw PPP Loan. No collateral will be required. No personal guarantees will be required. The interest rate will be 100 basis points (1%), calculated on a non-compounding, non-adjustable basis. The maturity is five years.

   Economic Aid Act: 10 Things to Know about Second Draw PPP Loans

   www.schwabe.com/publication/10-things-to-know-about-second-draw-ppp-loans-as-updated-for-the-economic-aid-act-and-the-arp-act-updated-5-5-2021/

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   When will second draw PPP loans reopen?

   • The SBA reported on May 2, 2021 that it had approved about $258 billion from the program’s reopening on January 11 through May 2. Borrowers should contact their lenders to learn when those lenders will begin accepting applications for Second Draw PPP Loans.

   Economic Aid Act: 10 Things to Know about Second Draw PPP Loans

   www.schwabe.com/publication/10-things-to-know-about-second-draw-ppp-loans-as-updated-for-the-economic-aid-act-and-the-arp-act-updated-5-5-2021/

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   Does the SBA require a first draw PPP loan forgiveness application?

   • Please note that the SBA does require that the First Draw PPP Loan forgiveness application be submitted before or simultaneously with the loan forgiveness application for a Second Draw PPP Loan that is more than $150,000. 2. In General:

   Economic Aid Act: 10 Things to Know about Second Draw PPP Loans

   www.schwabe.com/publication/10-things-to-know-about-second-draw-ppp-loans-as-updated-for-the-economic-aid-act-and-the-arp-act-updated-5-5-2021/

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4. www.schwabe.com › publication › 10-things-to-knowEconomic Aid Act: 10 Things to Know about Second Draw PPP ...

   www.schwabe.com › publication › 10-things-to-know

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   • Deadline and Fund Availability and Some Lender Requirements: Under the Extension Act, the last day for lenders to submit applications for Second Draw PPP Loans is May 31, 2021, and, the SBA will have an additional 30 days to process the applications submitted before June 1, 2021.
   • In General: Second Draw PPP Loans are generally subject to the same terms, conditions, and requirements as First Draw PPP Loans. These include the following
   • Eligibility Requirements: General eligibility requirements: The eligibility requirements for Second Draw PPP Loans are narrower than the eligibility requirements for First Draw PPP Loans.
   • Affiliation: With certain exceptions, eligibility for Second Draw PPP Loans is governed by the same affiliations rules (and waivers) as First Draw PPP Loans (see Question 7 of our article What to Know about the Paycheck Protection Program, Round Two – First Draw PPP Loans.

5. www.fincen.gov › sites › defaultFrequently Asked Questions (FAQs) as of January 12, 2024

   www.fincen.gov › sites › default

   The FinCEN April 2020 PPP FAQs above apply to Second Draw PPP Loans. If you have general questions about requirements related to customer due diligence or beneficial ownership, please see https://www.fincen.gov/resources/ statutes-and-regulations/cdd-final-rule.5 [February 1, 2021] 3.

6. rsmus.com › insights › tax-alertsSBA releases guidance on PPP second draw loans

   rsmus.com › insights › tax-alerts

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   Jan 07, 2021. The SBA recently released guidance for Paycheck Protection Program (PPP) borrowers looking to obtain a second PPP loan under the recently enacted PPP second draw program. This guidance expands upon changes to the PPP program contained within the Consolidated Appropriations Act, 2021.

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

   gusto.com › second-draw-ppp-application-process

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   Mar 5, 2021 · Update as of May 5, 2021: Funding for PPP has run out for all lending institutions with the exception of CDFIs. Funding remains solely for community lenders. Find out more about CDFIs here. The Paycheck Protection Program (PPP) relaunched in December and significant funds remain available for small business owners.