Cash App Bank Statement For Ppp Loan. Paycheck protection program (ppp) faq on loan forgiveness (10/13/20) The cares act that set up the ppp loan program says you must be in business before february 15, 2020.
Smbs can now apply for a ppp loan of up to 2.5 times their average monthly payroll, and the loan will be forgiven (read: The maximum amount allowed is $20,833. For loan amounts greater than $150,000, you need to upload all required documentation, including the 25% reduction in gross receipts for us to process your forgiveness application.
Evidence of 25% reduction of gross revenue in quarterly revenue in 2020 vs the same quarter in 2019 (include p&l for comparable quarters and be sure to sign and date them) evidence your prior ppp loan has been forgiven or you have met all the requirements and expect it to be forgiven.
Assuming your ppp loan did not include other payroll expenses, this amount would be equal to your entire ppp loan. Evidence of 25% reduction of gross revenue in quarterly revenue in 2020 vs the same quarter in 2019 (include p&l for comparable quarters and be sure to sign and date them) evidence your prior ppp loan has been forgiven or you have met all the requirements and expect it to be forgiven. I applied womply ppp for 2nd draw. I filled application without issues but only a issue with funding instructions and stuck with red exclaimer mark for two weeks.