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
When can I apply for a PPP loan 2021?
SBA, in consultation with the U.S. Treasury Department, reopened the Paycheck Protection Program (PPP) for First Draw PPP Loans the week of January 11, 2021. SBA will begin accepting applications for Second Draw PPP Loans on January 13, 2021.
What is a PPP loan and how does it work?
What is a PPP Loan? The Paycheck Protection Program (PPP) is an incentive program designed to help small businesses cover expenses such as payroll, rent, utilities, and worker protection costs.