New PPP Loans Under Economic Aid Act
Burr Forman
JANUARY 11, 2021
As before, the maximum PPP loan is $10 million. Experienced a reduction of 25% or more in gross receipts for any 2020 quarter as compared to the same quarter in 2019. times average monthly payroll costs (capped at $100,000 per employee annually in 2019, 2020, or the year prior to the loan. times average monthly payroll costs.
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