Construction Executive published article by Partner Robert Mercado and Director James Wiedemann, about pandemic relief programs for contractors.
For contractors that meet the above criteria, the PPP2 loan application is based on the same criteria as PPP1; however, the maximum amount of the loan has been reduced from $10 million to $2 million. All requirements for forgiveness in PPP1 have been carried forward. New costs have also been added to the non-payroll forgivable items, including certain operations costs, property damage costs, supplier costs and worker protection costs.
Coronavirus Resource Center
Have more questions about the impact of the coronavirus on your business? Visit Marcum’s Coronavirus Resource Center for up-to-date information.