The Small Business Administration has released the loan applications for PPP Second Draws PPP Second Draw Borrower Application Form (1.8.2021).pdf (sba.gov). Banks are beginning to accept applications this week.
RDG+Partners recommends gathering your information as soon as possible to 1) Determine your eligibility for the loan and 2) Calculate your average monthly payroll for purposes of determining the loan amount and completing your application.
A summary of the eligibility requirements is as follows. Organizations must:
Here are some key considerations for PPP round 2:
If you would like assistance in determining your eligibility for PPP round 2 or calculating the average monthly payroll costs for purposes of determining the loan amount, please reach out to RDG+Partners advisor. We have a dedicated team of professionals ready to help clients determine loan eligibility and maximize loan amounts.
For more information, call us at 585-673-2600.
RDG+Partners wants to be the primary advisor for motivated business owners. The firm is committed to providing boutique level accounting, tax and business consulting services to the Rochester, NY community.