13/04/2020 · Normally the maximum loan amount under that program is $5 million. The SBA is very clear that “If affiliation exists, SBA’s loan maximums apply to the applicant business, including all affiliates, as if all were a single ;. The CARES Act raises the maximum loan amount under PPP to $10 ;· A second PPP loan is only available to businesses that were in operation before February 15, 2020. They must have used up their initial PPP loan and have incurred a 25% or more reduction in revenue in 2020. A 25% or greater reduction in revenue must be shown by comparing the gross sales revenue in any quarter in 2020 with the same quarter in ;· However, until March 9, applications for both PPP loan types are limited to companies with 20 or fewer employees. If you are a small business owner with 20 employees or less, now is a great time to apply for a PPP loan because there is less competition for lenders. Not Every Lender Will Do Two Loans in the Same RoundI think the rule of thumb is that you can’t double dip. If you show $50,000 on your W2 and $70,000 on the 1099 for the same employee (you), but for two different businesses, you should be okay to claim both, but not if one is inclusive of the income of the other. 2 level 204/02/2021 · 7. Can I apply for the COVID-19 EIDL if I already received a PPP loan? Yes. Borrowers can apply for both the PPP and EIDL, although funds from both cannot be used for the same purpose. 8. What can I use COVID-19 EIDL funds for? And how is that different from PPP funds?Can I get a PPP loan if I just started my business this Can You Get Two PPP Loans in the Same Round?Can I Apply For EIDL or PPP For Multiple Businesses? | NavPPP Loans for the Self-Employed: Everything You Need to Know

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