Quote:
Originally Posted by Buehler445
What I'd heard (not verified) was that if you had it forgiven you couldn't get PPP2.
That doesn't sound right. So I have no idea.
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Yeah....my understanding, with next to no direct research, was that the first didn't impact the second, so long as you met the qualifications of the second.
So, regardless of what is going on with the first loan, you can still get the second so long as you meet the requirements.
With that said, I could see where if you didn't qualify for loan forgiveness the first time around (which basically means you didn't use it to cover labor costs), then why would they give you a second tranche? Just didn't know if that was the official position....
I do know that most of the clients that we're helping with the second PPP did get the first PPP, so what you say isn't the case (again, with no direct research). You should be able to get #2, again so long as you meet the qualifications to do so (p.s. second round is much more restrictive to smaller business and there is a loss demonstration).