can you get multiple ppp loans

Best answer

No. If you already received a PPP loan,you won鈥檛 be able to get a second one. However,if you have multiple businesses with different tax IDs,you can get PPP loans for your different businesses. I鈥檓 applying for my first PPP loan.

People also ask

  • Can you get two PPP loans in a row?

  • Small businesses that never got a Paycheck Protection Program over the summer might be able to get two PPP loans in a row this time around 鈥?if they act fast, experts say. That would mean getting a PPP loan, spending it and applying for a second PPP loan before the program expires.

  • What is the maximum loan amount for a PPPP loan?

  • PPP loans fall under the SBA 7 (a) loan program. Normally the maximum loan amount under that program is $5 million. The SBA is very clear that 鈥淚f affiliation exists, SBA鈥檚 loan maximums apply to the applicant business, including all affiliates, as if all were a single business.鈥?/div>Can I Apply For EIDL or PPP For Multiple Businesses? | Nav

  • How can I get a PPP loan in 2021?

  • Only go through approved lenders or the SBA. The Consolidated Appropriations Act, 2021 (CAA) extended the Paycheck Protection Program (PPP) through March 31, 2021, or until funds are depleted. The amount of funds made available was $284 billion.

  • Can a small business apply for a second draw PPP loan?

  • The business would need to spend at least 60% of the funds on payroll expenses, but would not need to have the loan forgiven to apply for a new one. The small business would then apply for a second-draw PPP loan and receive approval before the program officially expires March 31 or the program runs out of money.

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