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Quick PPP question
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Posted 1/13/2021 20:20 (#8749105 - in reply to #8748835)
Subject: RE: Quick PPP question

I was told you can reapply for round 1 and get up to the max amount minus what you got the first time. Plus you might qualify for round 2 if you had a 25% loss in any quarter. You have to compare each quarter bank statements from 19 and 20 and if you had 25 % less grain sales in one quarter of 20 verses same quarter of 19 you would qualify. That's the way my banker understood it. My banker and my tax guy are having a meeting tomorrow to see if they are on the same page.
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