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Can I apply PPP2 for the payroll we paid period of March 2020-August 2020? All the employees are under UI for now and near future. ?
Non of emplyees are getting payroll at this moment cause of pandemic, but we paid payroll at early pandemic from march to sep 2020. we did not get PPP1.
I am owner and still in bussiness, but we are not get paid for now, getting UI. I wonder if we can apply for PPP2 for the previous payroll back in 2020
- ?Lv 72 months ago
You can't skip to PPP2. You had to have received and spent PPP1 before you can apply for PPP2. You can still apply for PPP1, but be careful. Depending on the number of employees you have, you may have trouble meeting the FTE requirements. All the instructions and explanation are available at SBA.gov. You may find it easier to understand from the information posted on NFIB.com. They have made all the information available to non-members.
- A HunchLv 72 months ago
If no one is getting paid, is the business shut down? To be eligible for PPP2, you have to still be in business. Thus, unless you are a non-essential employer that is unable to work in your area (gyms, some personal care, movie theater, restaurant without outdoor dining/take out etc), you would not be eligible for PPP2.
If the business could be open and you aren't keeping it open, then you would not be eligible for a PPP2.
If you are a non-essential business without the ability to earn a living right now, you would be eligible for the PPP2, if there are still funds available. Most people applied in January.
In response to the comments:
As the owner, you are eligible for UI (I know this). However, to get this UI, as the owner, you are REQUIRED to look for work for your business every week or look for traditional employment.
- if you are looking for traditional employment, your business is closed and you aren't eligible for the PPP2. My friends who are in the same position as you, look for work CONSTANTLY because they want to keep their businesses open. Some barely make any money, but more then the $500 that they would have gotten from UI so most weeks they get no UI money.