PPP 2.0 Eligibility & Calculation | How to Request Loan Increase| Second Stimulus Update

NEW UPDATE:
"PPP 2.0 FOR SOLE PROPRIETORS": https://youtu.be/0y0Rp00uLSU
"PPP 2.0 - NEW TYPES OF EXPENSES ARE FORGIVEN !" :https://youtu.be/oOrocDXUr1U

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In this video I explain the most recent updates of the second stimulus legislation as it relates to the Paycheck Protection Program (PPP update).

Specifically, if your business suffered a loss (25% reduction in revenue ) in revenue in 2020, you will be eligible for a second PPP loan. PPP 2.0 will be fully forgivable. Similar to the first round of PPP loans, these loans will be eligible for forgiveness if at least 60% of the loan is spent on payroll and the rest is spent on other eligible expenses. Any loan that is partially forgiven or not forgiven would have an interest rate of 1% and a term of 5 years.

Next, I'll explain how you can request an increase in your previous PPP loan amount.

Finally, I'll explain the eligibility requirements for the second round of PPP loans and show how you can calculate whether you meet the required percentage of decrease in revenue.
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PPP Loan Forgiveness Site To Download the Form:
https://www.sba.gov/sites/default/fil...

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Disclaimers: The information provided on this channel should not be construed or relied on as professional advice for any specific fact or circumstance. This channel and its content are designed for entertainment and information purposes only. The content available is created to provide a general overview of a topic and is not a substitute for professional services. Always seek the advice of a finance or a legal professional that would take into account your specific circumstances. Opinions expressed are solely my own. Only publicly available information has been used.

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Видео PPP 2.0 Eligibility & Calculation | How to Request Loan Increase| Second Stimulus Update канала Lena Petrova, CPA - Finance, Accounting & Tax