How To Apply For The Ppp Loan And Get Approved. Multiply the amount from step 2 by 2.5 (or 3.5 if your business is in the food services or accommodation industry, with a naics code starting with 72). President biden announced program changes to make access to ppp loans more equitable.
However, to prove you were in operation as a sole proprietor or contractor, you’ll need to provide a 2020 invoice, bank statement, or book of record establishing that you were in operation on or around february 15, 2020. These loans may be completely forgiven if spent on eligible expenses (mainly payroll) during a specific time period. Get matched with a lender;
Your business was operational before february 15, 2020;
The official answer from the sba is that in order to apply for your second ppp loan, you have to wait at least eight weeks from the date you got the ppp one funds. Sba, in consultation with the department of the treasury, has determined that the following safe harbor will apply to sba’s review of ppp loans with respect to this issue: When you apply for ppp loans using womply as your approved ppp loan agent, we’ll send you an email containing updates, next steps, and resources to help you throughout the process. It’s free to apply for a ppp loan, and womply can help connect you with an sba lender that’s right for you!