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re: Second Round PPP Loan through Capital One

Posted on 2/25/21 at 7:24 am to Jjdoc
Posted by hubertcumberdale
Member since Nov 2009
6673 posts
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Posted on 2/25/21 at 7:24 am to Jjdoc
I never took a first draw so I took the first draw on the second PPP round. I got 2.5x my average 2019 monthly net profit. I think the second draw is the same but not positive
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Posted by VABuckeye
Naples, FL
Member since Dec 2007
36032 posts
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Posted on 2/25/21 at 7:26 am to hubertcumberdale
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.
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