PPP applications and forgiveness

INC. THIS MORNING PPP applications and forgiveness Good morning, The long-awaited “second draw” for the Paycheck Protection Program is finally here: Even if you received a PPP loan last year, you can now apply for another one. And you should act now, because the program’s current budget of $284 billion could disappear quickly. The program’s first tranche of funding last year--$349 billion--got claimed in a mere two weeks. But be careful: If you move so hastily that you are unprepared to work with your lender, you might lose your chance at a loan. Once you’ve applied and (hopefully) received approval for a new loan, you’ll need to start thinking about forgiveness. The rules have changed dramatically since last year, including a multitude of new covered expenses and a reduction in paperwork for the smallest borrowers. You’ll need to understand the minutiae right now--exactly what’s different, and what’s remaining the same--to get your loan forgiven down the road. We’ve got you covered. Check out our latest PPP coverage: Here’s what lenders will ask when you apply for a second-draw PPP loan, and the new documents you’ll need to provide this time around. These five major changes to PPP forgiveness are (mostly) for the better. SPONSORED CONTENT Inc.’s Best Workplaces. Apply today! Inc. ’s Best Workplaces awards the company cultures that thrive in the face of adversity. Cultures that in response to a pandemic redefine the workplace and continue to enrich it. Cultures that foster employee growth and advancement at all levels. Apply today to be recognized as a place where people love to work, one that sets the standard for excellence in company culture. Regular rate deadline: January 15, 2021. Apply Now. HERE'S WHAT ELSE I'M READING TODAY: A recent survey says these are the top four skills that make an effective manager. (Hint: They all involve lots of communication.) --Inc. Here’s the simple secret to having an exceptional memory, according to a Norwegian neuropsychologist. --Inc. Apple’s first major racial equity investments include a Detroit developer center and an Atlanta tech hub for historically Black colleges and universities. --The Verge New shopper data from the final weeks of 2020 could give brick-and-mortar retailers hope for this year. --CNBC This is how you confidently market a product that's first-of-its-kind. --Inc. Pay attention to these six signs that you and your team aren't on the same page. --Inc. --Cameron Albert-Deitch Reporter, Inc. How are we doing? Send me ideas and feedback for Inc. This Morning at calbertdeitch@inc.com or on Twitter, and sign up for daily text messages from me. Click here to forward to a friend. This email was sent by: Mansueto Ventures 7 World Trade Center, 29th Floor New York, NY, 10007, Unsubscribe • Update Profile • View in Browser • Privacy Policy