PPP Round 2 Vs. PPP 1 - How To Apply [Self Employed, 1099, & Small Business]

PPP Round 1& 2 Apply Free Online: https://www.womply.com/maxmaher/?utm_source=maxmaher&utm_medium=marketing_email&utm_campaign=ppp&utm_content=leadgen

Paycheck protection round 2 application is now on the SBA site. Let’s cover the new PPP application, how to qualify for the second PPP, How to apply for PPP 2, How to apply for PPP 1, and documents needed for PPP loan.

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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

If you received a loan the first round you may be able to dip again this second round if you hit a few criteria.

Show a 25% reduction in revenue
Your company can not have over 300 employees..
Your business must have already spent the first round or must plan to use it.

SBA PPP Round 2 Application / PPP Second Draw Borrower Application
https://www.sba.gov/sites/default/files/2021-01/PPP%20Borrower%20Application%20Form%20%28revised%201.8.2021%29.pdf

SBA PPP Round 1 Application / First Draw PPP Application
https://www.sba.gov/sites/default/files/2020-12/2483-PPP-Borrower-Application-Form%20%28Revised%2012.29.2020%29-%20508.pdf

In this video I will show you step by step how to fill out the PPP round 2 and round 1 applications properly so you can get funding as soon as possible.

PPP 2 start date
PPP 2 application link
When can I get PPP round 2?
Is PPP 2 available?
How to apply PPP round 2?
How to apply for the first PPP
First PPP application

0:00 What you can expect with this walkthrough
1:48 PPP round 1 guidelines / who can apply
2:30 PPP 1 forgivable expenses
4:20 When can you apply for PPP 1
4:40 Where to apply for PPP 1
5:30 PPP 1 application walkthrough
13:19 PPP round 2 guidelines / who can apply
14:30 Differences from PPP 1 and PPP 2
18:00 PPP Round 2 application walkthrough
25:36 Documents you need alongside PPP applications (both rounds)
*Note: applications are submitted to SBA lenders not the SBA directly
*Note 2: applications will begin processing to certain lenders on the 14th. Womply's lenders are included in this. You can pre-apply before then via my link to get everything done ahead of time.

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Видео PPP Round 2 Vs. PPP 1 - How To Apply [Self Employed, 1099, & Small Business] канала Max Maher