Ppp Loan Deadline 2024 Irs. For most borrowers, the maximum loan amount of a second draw ppp loan is 2.5x the average monthly 2019 or 2020 payroll costs up to $2 million. All ppp loans are eligible for full loan forgiveness as long as business owners followed certain lending criteria during a covered time period when they were required to.
Ppp is a loan designed to provide a direct incentive for small businesses to keep their workers on payroll. Calculate the average monthly net profit or gross income amount.