Do you Qualify for a PPP2 Loan?
Do you Qualify for a PPP first draw loan?
- Businesses with 500 or fewer employees that are eligible for other SBA 7(a) loans.
- Sole proprietors, independent contractors, and eligible self-employed individuals.
- Not-for-profits, including churches.
- Accommodation and food services operations (those with North American Industry Classification System (NAICS) codes starting with 72) with fewer than 500 employees per physical location.
- Sec. 501(c)(6) business leagues,
- that have 300 or fewer employees and do not receive more than 15% of receipts from lobbying. Sports leagues are not eligible.
- News organizations that are majority-owned or controlled by an NAICS code 511110 or 5151 business or not-for-profit public broadcasting entities with a trade or business under NAICS code 511110 or 5151. The size limit for this category is no more than 500 employees per location.
Maximum loan amount:
Eligible Costs for Forgiveness:
- Expenditures related to complying with Covid-19 Federal health and safety guidelines;
- Certain property damage costs related to vandalism or looting due to Covid-19 public disturbances;
- Expenditures to suppliers that are essential at the time of purchase to the recipients current operations;
- Expenditures related to business software or cloud computing service that facilitates business operations.