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NEBRASKA | Look at gross income on schedule f. Whatever that number is is divided by 12 then multiplied by 2.5. The maximum you can receive is $20,833.
UNLESS you have payroll, then it can be increased to a multiple of 3.5 for a max of $29,165.
Of course nobody qualifies for the second ppp unless you took out and spent all of your first ppp. And then ONLY if you can show a 25% loss in the same qtr from 2019 to 2020. For example, you sold grain in jan of 2019 but not in first qtr of 2020 so you are showing less income by 25% or more...you qualify.
I am a banker by day and have been taking applications all week.
One other thing is.....IF you didn’t quality for ppp the first time due to not showing profit, you can now get ppp 1 with the new rules of using just gross income. However you cannot then turn around and get ppp 2.
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Ppp
