As lenders are starting to accept round 2 of PPP applications ( $1B and greater lenders will be able starting Tuesday), linked here are some details about how to calculate loan amounts. It is pretty much the same as first draw: Average monthly payroll + payroll related costs. The use of the funds have a broader coverage as shown on the application but is not used for the loan amount calculation.
Additionally, we are waiting on SBA to confirm based on the new stimulus the SBA will be waiving the SBA guarantee fee and be making the first 6 months of payments for new SBA 7a and 504 type loans.
Formal guidance from the SBA is still pending.
Please contact John Hajgato with any questions, assistance or guidance you or your clients may seek for anything related to SBA or PPP, at [email protected].
DCV has several lenders lined up that are participating in round 2 of PPP.