Out of the $288 billion for the second round of PPP, around $103 billion (around 36%) have been approved as of earlier this week. The SBA has released some relevant details on how the majority of the loans are for amounts under $100k. Release Date: February 10, 2021 Release Number: 21-15 This week, the
Back on January 8, 2021, the SBA release the new guidance for PPP: A borrower is generally eligible for a Second Draw PPP Loan if the borrower: Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses; Has no more than 300 employees; and Can demonstrate
After being involved with a large number of applications, we have summarized some relevant tips when you apply. Keep in mind that each financial institution is different, they have different intake process (online portal, email, etc.) and different requests. Have the 1st round PPP information available - a) PPP 1st round SBA loan number and
