Applying for the PPP Loan
Unlike the EIDL loan which had one lender (the SBA itself), each bank will have its own process for applying for the PPP Loan. We do believe, however, that applications will be similar enough that this information will be helpful in your effort to apply.
The first step is to calculate 2.5 times your average monthly payroll expenses. For PFG clients, we have calculated this number for you and have emailed this number directly to you. Applications also ask for the amount received under the EIDL loan. If you have not received any money from that program as of the time you apply for the PPP loan, put zero for this question. If you have received funds for the EIDL loan, input that number.Read More