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2nd round of PPP
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Illinifarm
Posted 1/10/2021 12:53 (#8739617)
Subject: 2nd round of PPP


Looking for a little clarification on the new PPP deal. Seems like most farmers with no employees and schedule F income will qualify for the $20,833 on the 2nd draw.

My question is, if you took the 1st round but it was substantially less due to using Net instead of gross initially can you go back and request a modification? To throw a bigger complication into the mix the banks around here had everyone request forgiveness already.

If your forgiveness has already been approved can you still go back and request a modification or just move on to the 2nd round?

The way I read the rules if you've had your forgiveness completed you can't go back but just seeing what everyone else is hearing.
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