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re: Anybody Have Info on 2nd Round of PPP ??
Posted on 1/11/21 at 7:50 pm to Tridentds
Posted on 1/11/21 at 7:50 pm to Tridentds
quote:
It is a bit unclear as to if you need to compare 2019 Q to same quarter in 2020
Yes. 2nd Q 2019 vs. 2nd Q 2020, etc.
quote:
or if you can show a reduction from Q1 2020 to Q2 2020 or Q1 2020 to Q4 2020
No & no..
If you don't have quarterly financials, if you can show a 25% decrease for the 2020 year vs. 2019 year (i.e. all 12 months), this works as well.
1
Posted on 1/11/21 at 9:10 pm to texn
Am I right that you don't have to show Q over Q loss if your loan is under 150k (until the forgiveness stage)? Of course what your lender makes you do might vary. We had to jump through a bunch of stupid hoops for our lender in R1 that weren't required.
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