To answer the question we hear virtually on a daily basis relative to PPP monies for small businesses, it is our understanding that businesses must have used, or will use, the full amount of the initial PPP1 loan for authorized purposes on or before the expected disbursement of the PPP2 loan.
Also, the second round disbursement can be forgiven like the first round. The cap on the second disbursement is $2,000,000.
For expert advice, I would recommend conferring with an experienced professional like Dave Natan (firstname.lastname@example.org), a partner with Newburg/CPA in Waltham, MA.
You can find general PPP information in our prior blog posts:
We hope this information is helpful to you! When you are ready to begin, relocate or expand your business, team up with the Jay Nuss Realty Group, LLC! Whether you are thinking of buying, leasing, or investing in Boston Metro commercial real estate, we can help you find the ideal property.
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