Loan Applications for PPP Borrowers – 2483 and 2483-SD EXPLAINED by a CPA!
The Economic Aid Act opened up another $284 billion in funding for the Paycheck Protection Program (PPP). This round is opening up for applications the week of January 11th, and we want borrowers to be ready. Lenders will open up portals this week in a staggered manner (community banks first) to allow for harder-hit areas and businesses to apply first.
The SBA released two new applications for borrowers - one for those getting their first time ever PPP loan (2483) and one for second draw borrowers (2483-SD). These two applications are the basis of what the banks need to ask for when you are asking for a loan. Review these and fill them out, then you will be ready to apply directly with your bank! Hannah Smolinski, CPA explains these two forms and how they are different from each other and different from the original PPP loan application.
How do you calculate the right loan amount?
Hannah Smolinski goes through EVERYTHING you need to know to calculate your loan amount correctly in her mini-course here: https://claracfo.podia.com/applying-for-ppp2-how-to-calculate-your-loan-amount
- Detailed spreadsheet to calculate the loan amount for every tax status
- Edited recordings of the January 6th webinar explaining everything you need to know and how to use the spreadsheet
- Links to the Q&A session, important resources, and related videos
- Content updates to those registered as new information is available
Find Links to the 2483 here: https://home.treasury.gov/system/files/136/PPP-Borrower-Application-Form.pdf
and 2483-SD here: https://home.treasury.gov/system/files/136/PPP-Second-Draw-Borrower-Application-Form.pdf
To get $100 off assistance with your PPP forgiveness application using Upside Financial's PPP Advisor Pro service, use our affiliate link here: https://borrower.upsidefinancial.com/promo/HannahSmolinski
Hannah Smolinski is a #CPA and the Founder of Clara CFO Group.
Find out more about Clara CFO Group at https://claracfo.com/
Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.