Having certain conditions, eligibility having Next Draw PPP Fund was influenced from the exact same affiliations guidelines (and you can waivers) since Very first Draw PPP Funds (find Matter seven your blog post
- NAICS Rules: For purposes of reporting NAICS codes, applicants must match the business activity code provided on their IRS income tax filings, if applicable. For purposes of calculating an applicant’s maximum payroll costs, an applicant may multiply its average monthly payroll costs by 3.5 only if the applicant is in the Accommodation and Food Services sector and has reported a NAICS code beginning with 72 as its business activity code on its most recent IRS income tax return. However, if the business activity code line is missing from the business’s most recently filed income tax return, the borrower should report the industry code that is most applicable to the business’s primary business activity. If the business is in the Accommodation and Food Services sector, the borrower may only report a NAICS code beginning with 72 if it can substantiate this with alternative documentation, such as permits or licenses issued by local governments that are unique to the sector.
That have specific exclusions, qualifications for 2nd Draw PPP Finance was governed because of the same affiliations regulations (and you will waivers) once the Very first Draw PPP Loans (select Question seven of one’s post
- any company concern about only 3 hundred staff you to definitely, at the time of the newest time about what the latest secured financing is actually paid, is actually assigned an excellent NAICS password you start with 72 (Rental and you first-rate web site to study can Restaurants Functions);
- any organization question (together with any station that broadcasts pursuant so you’re able to a license supplied by the newest Government Correspondence Payment not as much as term III of your Correspondence Operate out-of 1934 (47 You.S.C. 301 et seq.) without regard for whether or not instance a channel is an issue as the outlined during the 13 C.F.R. § , otherwise any successor thereto) that makes use of only 3 hundred personnel per actual location regarding particularly organization matter and that’s vast majority had otherwise controlled by a great business concern which is tasked a great NAICS password you start with 511110 (Newsprint Editors) otherwise 5151 (Radio and television Sending out); and you can
- any company concern otherwise company that is assigned a good NAICS password out of 519130, certifies within the good faith due to the fact an online-merely news blogger otherwise Internet sites-simply periodical copywriter, and is involved with the fresh collection and you can distribution from regional otherwise local and federal information and you will recommendations, if your providers question or team makes use of only 500 teams (or the dimensions practical inside level of teams based from the SBA into the 13 C.F.Roentgen. for NAICS password 519130) for every real location, that’s majority possessed or controlled by a corporate question otherwise team that’s tasked NAICS 519130.
With particular exclusions, qualifications to own 2nd Draw PPP Financing try ruled of the exact same associations rules (and you will waivers) since Very first Draw PPP Financing (look for Matter seven of our post
- men and women entities excluded away from qualifications within the CARES Act otherwise Consolidated First Mark PPP IFR-see Matter six in our post ” ” and PPP Ineligibility Revise: People Ineligible to own Very first Draw and you will Next Draw PPP Funds (Current 3/4/2021) ;
- a business question or organization primarily engaged in governmental circumstances otherwise lobbying items, since the defined from inside the section step 3 of the Lobbying Disclosure Act of 1995 (2 You.S.C. 1602), plus any entity which is prepared to own look and for entertaining during the advocacy in section such as for instance societal plan otherwise political approach if not makes reference to by itself due to the fact a think-tank in any societal documents;
Note: in Frequently asked questions 57 and you may 58, the SBA made clear (a) “lobbying facts” is really as laid out from inside the area 3 of Lobbying Disclosure Work ( 2 U.S.C. 1602); and you can (b) none of continues out of a first Draw PPP Mortgage otherwise 2nd Mark PPP Financing can be utilized to own (1) “lobbying activities”; (2) lobbying costs associated with your state or regional election; otherwise (3) costs designed to influence the fresh new enactment away from statutes, appropriations, control, management step, or manager order advised or pending before Congress otherwise any condition regulators, condition legislature, otherwise regional legislature otherwise legislative human body.
