Get the free Second Draw Borrower Application Form, Revised March ...

Paycheck Protection Program OMB Control No.: 32450417 Expiration Date: 9/30/2021Second Draw Borrower Application Form Revised March 3, 2021 (Sole proprietor Partnership Corp Score LLC Independent

How to fill out second draw borrower application

How to fill out second draw borrower application

1. Gather all required documentation such as payroll records, tax forms, and financial statements.
2. Access the Second Draw Borrower Application form from the Small Business Administration (SBA) website.
3. Fill out the form accurately with your personal and business information.
4. Provide details of your loan amount from the First Draw PPP Loan and how it was used.
5. Answer all eligibility questions and certify the accuracy of the information provided.
6. Review the completed application form for any errors or missing information.
7. Submit the application form along with the required documentation to the lender participating in the Second Draw PPP Loan program.

Who needs second draw borrower application?

1. Small business owners who have previously received a First Draw PPP Loan and meet the eligibility criteria for a Second Draw PPP Loan.
2. Businesses that have experienced a significant revenue reduction due to the COVID-19 pandemic and require additional financial assistance.

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What is second draw borrower application?

The second draw borrower application is a form that eligible businesses can submit to request a second loan under the Paycheck Protection Program (PPP).

Who is required to file second draw borrower application?

Businesses that have already received a PPP loan and meet the eligibility criteria for a second loan can file a second draw borrower application.

How to fill out second draw borrower application?

The second draw borrower application can be filled out online through participating lenders who are approved to process PPP loan applications.

What is the purpose of second draw borrower application?

The purpose of the second draw borrower application is to provide additional financial relief to eligible businesses that have been impacted by the COVID-19 pandemic.

What information must be reported on second draw borrower application?

The second draw borrower application requires businesses to provide information on their financial situation, number of employees, and how they plan to use the funds.