Posts tagged first-time borrowers.

The Economic Aid Act authorizes new PPP loans for first-time borrowers, as well as applications for a Second Draw PPP Loan for those that already received a loan last year. This alert addresses the requirements and issues for the self-employed and sole proprietors with no employees, who wish to apply for a Second Draw PPP Loan under the new law.

Requirements:

If you are self-employed/or a sole proprietor, with no W-2 employees, and you report income from your business on your personal tax return (Form 1040/Schedule C), and if you qualified for a First Draw PPP Loan and would continue to ...

Posted in: COVID-19
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