That have specific conditions, qualification for Next Draw PPP Financing is influenced from the same associations legislation (and you will waivers) while the Earliest Draw PPP Financing (see Question 7 of your blog post
- NAICS Rules: For purposes of reporting NAICS codes, applicants must match the business activity code provided on their IRS income tax filings, if applicable. For purposes of calculating an applicant’s maximum payroll costs, an applicant may multiply its average monthly payroll costs by 3.5 only if the applicant is in the Accommodation and Food Services sector and has reported a NAICS code beginning with 72 as its business activity code on its most recent IRS income tax return. However, if the business activity code line is missing from the business’s most recently filed income tax return, the borrower should report the industry code that is most applicable to the business’s primary business activity. If the business is in the Accommodation and Food Services sector, the borrower may only report a NAICS code beginning with 72 if it can substantiate this with alternative documentation, such as permits or licenses issued by local governments that are unique to the sector.
That have certain exceptions, qualification for 2nd Mark PPP Loans try governed by same affiliations regulations (and you will waivers) because Very first Mark PPP Funds (find Matter 7 of our own article
- any company anxiety about not more than three hundred employees that, at the time of the newest day on what brand new secure mortgage was paid, is tasked an excellent NAICS password starting with 72 (Housing and you can Dinner Services);
- any company question (also one channel that shows pursuant to help you a license supplied because of the the Federal Communication Payment around identity III of the Correspondence Operate of 1934 (47 U.S.C. 301 ainsi que seq.) regardless of whether instance a station is a concern as outlined into the 13 C.F.Roentgen. § , otherwise one replacement thereto) that makes use of not more than 300 personnel for each and every real venue of such as team question which can be bulk had or subject to a providers matter that’s tasked a beneficial NAICS password starting with 511110 (Papers Editors) or 5151 (Broadcast and television Sending out); and you may
- any business question otherwise organization that is tasked a NAICS password from 519130, certifies in the good faith since the an online-only news blogger otherwise Internet sites-simply periodical blogger, that will be engaged in this new range and you can shipment https://paydayloansohio.net/cities/bryan/ away from regional otherwise local and federal news and you can advice, in case your organization matter otherwise business makes use of only five-hundred team (or the dimensions simple within the quantity of personnel centered because of the SBA into the thirteen C.F.Roentgen. to own NAICS password 519130) for every bodily venue, which will be majority had or controlled by a business question or team that’s assigned NAICS 519130.
Having specific exceptions, eligibility for 2nd Draw PPP Money try governed because of the exact same associations regulations (and you may waivers) since Very first Mark PPP Money (look for Question eight of one’s article
- those people entities excluded out-of eligibility beneath the CARES Work or Consolidated Earliest Draw PPP IFR-pick Question 6 in our article ” ” and you can PPP Ineligibility Change: Enterprises Ineligible having Earliest Draw and you will 2nd Draw PPP Money (Up-to-date 3/4/2021) ;
- a business question or organization mainly engaged in governmental points or lobbying activities, due to the fact defined inside the part 3 of Lobbying Revelation Operate away from 1995 (dos U.S.C. 1602), and additionally one organization that is planned for research and for enjoyable for the advocacy during the elements like personal policy or governmental method or else means in itself because a think tank in almost any societal documents;
Note: during the Faqs 57 and 58, the newest SBA made clear (a) “lobbying activities” is as defined when you look at the point 3 of one’s Lobbying Revelation Act ( 2 U.S.C. 1602); and you may (b) nothing of the proceeds of a primary Draw PPP Financing otherwise 2nd Draw PPP Loan may be used to have (1) “lobbying factors”; (2) lobbying costs connected with your state otherwise regional election; or (3) expenses designed to determine the newest enactment of regulations, appropriations, controls, administrative step, otherwise administrator purchase advised or pending in advance of Congress otherwise one county regulators, county legislature, or local legislature otherwise legislative human body.
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