Which have specific exclusions, qualifications getting 2nd Mark PPP Financing was ruled by exact same affiliations legislation (and payday loans South Euclid OH you will waivers) while the First Mark PPP Finance (come across Question seven of our article
- NAICS Requirements: 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.
With specific exceptions, qualifications to possess Second Mark PPP Money try influenced by exact same affiliations regulations (and you may waivers) due to the fact Earliest Mark PPP Fund (pick Matter seven your blog post
- any business anxiety about only 300 professionals one, by the time on what the brand new safeguarded loan try paid, is actually tasked an excellent NAICS code beginning with 72 (Rooms and you may Dining Qualities);
- any organization matter (together with people station that broadcasts pursuant to help you a permit provided of the the new Government Telecommunications Payment around identity III of Telecommunications Operate away from 1934 (47 U.S.C. 301 mais aussi seq.) without regard for if or not such as for example a channel is a concern since outlined within the 13 C.F.R. § , otherwise people successor thereto) you to definitely utilizes only 3 hundred team per actual venue off like team concern and is most possessed otherwise subject to a good organization concern that’s tasked an effective NAICS password you start with 511110 (Magazine Editors) otherwise 5151 (Radio and tv Broadcasting); and you may
- any company matter or providers which is tasked a beneficial NAICS code of 519130, certifies in good-faith because an online-simply development creator or Websites-merely periodical author, which can be engaged in new range and shipments out-of regional otherwise regional and you may national reports and you can suggestions, in the event the organization matter otherwise team makes use of only five-hundred teams (or perhaps the dimensions practical within the quantity of personnel centered by the SBA during the thirteen C.F.R. to own NAICS password 519130) per physical location, that is bulk owned or controlled by a business matter or company that’s tasked NAICS 519130.
Which have specific conditions, qualifications to own 2nd Mark PPP Finance is actually influenced by exact same affiliations statutes (and you will waivers) since the First Draw PPP Funds (pick Matter eight of one’s article
- people agencies omitted of eligibility in CARES Operate otherwise Consolidated Earliest Mark PPP IFR-look for Matter six your blog post ” ” and you can PPP Ineligibility Update: Organizations Ineligible having First Mark and Next Mark PPP Money (Up-to-date step three/4/2021) ;
- a corporate concern otherwise entity generally engaged in political items otherwise lobbying things, since laid out in section 3 of your Lobbying Disclosure Act regarding 1995 (dos You.S.C. 1602), also people entity that is planned getting search or even for engaging in the advocacy from inside the elements for example societal coverage otherwise political approach otherwise relates to by itself just like the a think-tank in just about any public documents;
Note: within the Faqs 57 and you may 58, the SBA clarified (a) “lobbying facts” can be laid out when you look at the area 3 of your Lobbying Disclosure Operate ( 2 You.S.C. 1602); and you will (b) not one of your continues out of an initial Draw PPP Loan or Next Draw PPP Mortgage can be utilized for (1) “lobbying things”; (2) lobbying costs about a state otherwise local election; otherwise (3) expenditures designed to determine brand new enactment out-of legislation, appropriations, controls, management action, or administrator order proposed or pending in advance of Congress otherwise one condition bodies, state legislature, or local legislature or legislative looks.
