OMA Connections Partner CliftonLarsonAllen has published this new insight that examines the basic rules for Paycheck Protection Program (PPP) second draw loans. Generally speaking, the loan amount is determined by average monthly payroll for either 2019 or 2020, multiplied by 2.5, with a maximum loan size of $2 million. Businesses that are part of a single corporate group cannot receive more than $4 million of second draw loans in the aggregate.
Meanwhile, OMA Connections Partner Huntington National Bank offers this webpage with PPP information and updates. 2/3/2021