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Blue acorn second draw ppp application

PPP Second Draw Application Form 2483-SD-2025

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The document is the Second Draw Borrower Application Form for the Paycheck Protection Program (PPP), designed for various business types to apply for financial assistance under the CARES Act. It outlines eligibility criteria, required information such as business details, payroll calculations, and loan purposes, and includes certifications regarding compliance with federal regulations. The form also addresses documentation requirements for demonstrating a reduction in gross receipts due to economic impacts.

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2021	4.4 Satisfied (151 Votes)

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How were PPP loan amounts calculated?

PPP loans are calculated using the average monthly cost of the salaries of you and your employees. If youre a sole proprietor or self-employed and file a Schedule C, your PPP loan is calculated based on your business gross profit (or gross income). Your salary as an owner is defined by the way your business is taxed.

How to calculate second draw PPP loan amount?

The maximum amount of the loan is the lesser of two and half months of your average monthly payroll costs or $2 million. The two and a half months salary calculation is the same as for First Draw loans, but the cap has been reduced to $2 million.

What expenses are eligible for PPP second draw?

Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.

What is the second round of PPP loans?

Loan details PPP now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP loan with the same general loan terms as their First Draw PPP loan. Second Draw PPP loans can be used to help fund payroll costs, including benefits.

What is a 2483 form?

By signing SBA Form 2483, Borrower Information Form in connection with this application for an SBA-guaranteed loan, the Applicant certifies that it has read the Statements Required by Law and Executive Orders, which is attached to Form 2483.

2483

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How to calculate second draw PPP loan amounts?

New entities The sum of the total monthly payroll costs paid or incurred as of the date on which you apply for the second draw PPP loan, divided by. The number of months in which those payroll costs were paid or incurred, multiplied by 2.5 (borrowers with an NAICS beginning with 72 will multiply by 3.5)

PPP Second Draw Application Form 2483-SD-2025

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How were PPP loan amounts calculated?

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How to calculate second draw PPP loan amounts?

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