Second Round PPP Loan through Capital One

I applied for the first draw this second stimulus go round, through TheLoanSource and they were incredibly fast and efficient. Think it was less than a month from when I applied to when I got the money deposited in my account. The money was also in my account before they even notified me that I got approved, so was quite the pleasant surprise.

Do these companies have to submit information showing where this money goes ?

I personally know a couple who owns an oilfield service company, most of their employees are family and work as contract workers. They work when there's work.

They took out 500k+ the first round and have since taken 4 vacations, bought a 100k truck and a new home.

seems a little suspicious to say the least

Is it the same amount as the first? Or can you apply for more?

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Is it the same amount as the first? Or can you apply for more?

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It's all dependent on your payroll costs. If your payroll is higher this time around then the loan amount is higher. Our 2nd PPP loan was 15% higher than the first.

Can the rest of you keep your political and racial nonsense off this board please. This is the Money Board. We help people here and we don't come here with axes to grind or political crap. Take it to the Politics Board.

Good point. How your PPP loan is calculated depends on the structure of your company. We are an LLC treated as an S Corp and everyone is a W-2 employee.