Stimulus Update: URGENT PPP News: Biden's Big Change

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5 minute Paycheck protection round 2 application is now live. Let’s cover the new PPP application, how to qualify for the second PPP for gig workers, How to apply for PPP 2 for gig workers, How to apply for PPP 1, and documents needed for PPP loan.

President Biden has made some major changes to the PPP 2-22

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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.

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

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?


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