PPP Loans

• The legislation includes $284 billion for PPP
• Full principal loan amount may be forgiven up to %100.
• Borrowers may apply for the second round of PPP, even before applying for forgiveness on their first round
• Employ fewer than 300 employees.
• Eligible business owner must have experienced a revenue reduction of %25 or greater in any quarter of 2020 relative to 2019.
• $100,000, divided by 12 is the average total monthly payment for each employee payroll costs incurred or paid by the borrower during the same year elected.

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