New Ruling: How The PPP May Now Give You 3x More Stimulus Money

PPP news. PPP gross income. New PPP application

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PPP News
Congress has approved $284 billion for another round of PPP loans. PPP loans are forgivable loans meant to go to small businesses to keep their employees hired.

In order to get a PPP loan forgiven.. Meaning the ability to have to loan balance wiped out without having to pay it back you have to spend it on specific items.

Applicable expenses are:
Gross salary, wages, tips, and commissions to employees or yourself if you’re self employed
Paid Leave (any paid leave that isn’t covered by the Families First Coronavirus Response Act)
Employee Benefits Costs
Interest Expenses
Utility Expenses
And Rent or Mortgage Expenses
Supplies from Vendors
Protective Equipment
Property Damage Due to Public Disturbances

I explain the complexity of the new PPP gross income calculations and the new SBA gross income interim rule.

SBA's interim rule: https://www.sba.gov/sites/default/files/2021-03/SBA%20PPP%20IFR%20Loan%20Amount%20Calculation%20and%20Eligibility%20%283-3-21%29.pdf

PPP 2 start date
PPP 2 application link
PPP Fast Lane Application
When can I get PPP round 2?
Is PPP 2 available?
How to apply PPP round 2?
Gross income PPP
net income vs gross income PPP
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