Get the free Second Draw Short Form Supplemental Application Up To 150,000.docx

SECOND DRAW SUPPLEMENTAL APPLICATION UP TO $150,000 LOANS UNDER THE PAYCHECK PROTECTION PROGRAM NOTE: This short form Supplemental Application may be used only by second draw Paycheck Protection Program

How to fill out second draw short form

How to fill out second draw short form

1. To fill out the second draw short form, follow these steps:
2. Start by providing your personal information, such as your name, address, and contact details.
3. Next, provide details about your business, including its legal name, address, and Employer Identification Number (EIN).
4. Indicate the type of business you have, whether it's a sole proprietorship, partnership, corporation, or other legal entity.
5. Specify the date your business was established and the total number of employees before the COVID-19 pandemic.
6. Enter the loan amount you received under the first draw PPP loan and provide the SBA loan number.
7. Answer questions related to your eligibility for the second draw, such as whether you experienced a revenue reduction and the percentage of revenue reduction.
8. Sign and certify the form, ensuring that all the information provided is true and accurate.
9. Submit the completed form through the designated online portal or by mailing it to the appropriate address.

Who needs second draw short form?

1. The second draw short form is intended for small businesses and eligible non-profit organizations that meet specific criteria:
2. - Businesses with 300 or fewer employees.
3. - Businesses that have experienced a revenue reduction of 25% or more in any one quarter of 2020 compared to the same quarter in 2019.
4. - Businesses that have already received a first draw PPP loan and have used or will use the full loan amount for eligible expenses.
5. It's important to review the official guidelines and eligibility requirements to determine if your business needs to fill out the second draw short form.

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What is second draw short form?

Second draw short form is a simplified application process for businesses seeking a second round of Paycheck Protection Program (PPP) funding.

Who is required to file second draw short form?

Businesses that have already received a first draw PPP loan and are seeking a second round of funding are required to file the second draw short form.

How to fill out second draw short form?

The second draw short form can be filled out online through participating lenders or through the Small Business Administration's website.

What is the purpose of second draw short form?

The purpose of the second draw short form is to streamline the application process for businesses seeking additional PPP funding.

What information must be reported on second draw short form?

The second draw short form requires information such as the business's payroll costs, number of employees, and economic impact of the COVID-19 pandemic.