Get the free Second Draw Loan Guaranty SBA Form 2484-SD (01/21) 1

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Paycheck Protection Program OMB Control No.: 32450417 Expiration Date: 7/31/2021Second Draw Borrower Application Form Sole Proprietor Partnership Corp Score LLC Independent Contractor Reemployed Individual

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How to fill out second draw loan guaranty

01

Gather all necessary documentation such as tax forms, payroll records, and proof of revenue reduction

02

Complete the borrower application form provided by the lender

03

Submit all required documentation to the lender for review

04

Wait for approval from the lender

05

Once approved, sign the loan agreement and receive the funds

Who needs second draw loan guaranty?

01

Small business owners who have experienced a revenue reduction of 25% or more in 2020 compared to 2019

02

Businesses that have already received a first draw PPP loan and have used or will use the full amount for authorized purposes

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What is second draw loan guaranty?

Second draw loan guaranty is a program that provides additional funding to small businesses that have already received a first draw PPP loan and experienced a revenue reduction of 25% or more.

Who is required to file second draw loan guaranty?

Small businesses that meet the eligibility criteria set by the Small Business Administration are required to file for second draw loan guaranty.

How to fill out second draw loan guaranty?

Second draw loan guaranty can be filled out through the Small Business Administration's website or through a participating lender.

What is the purpose of second draw loan guaranty?

The purpose of second draw loan guaranty is to provide additional financial support to small businesses that have been adversely impacted by the COVID-19 pandemic.

What information must be reported on second draw loan guaranty?

Information such as business revenue reduction, number of employees retained, and intended use of funds must be reported on second draw loan guaranty.

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