The second round of the Paycheck Protection Program opens up this week at a critical time for many businesses in our community. Praxia Partners is again teaming up with Commodore Bank to facilitate the closing and forgiveness of loans for small businesses and nonprofits that need this support to stay in business and meet their mission.
Round 2: I’ve applied before and need to apply again.
If you’re familiar with the program: we’ve got a PPP Round 2 Overview slideshow that outlines the small changes in eligibility for this round. If you’ve applied before, this is a very similar Program to Round 1. Note the main changes that apply to you are in the first 25 slides. You can apply directly here at our partner bank Commodore’s website.
Round 1: I didn’t apply during the first round, but need the support now.
If you didn’t apply in Round 1, you’re still eligible to apply for a Round 1 PPP loan. Check out our blog post detailing Round 1 requirements here. To apply, we’ll need the following:
- A First Draw Application, which can be downloaded here.
- Payroll Documentation (outlined in our presentation)
- Additional documentation (rent, mortgage, utilities, to support your request).
All of this can be submitted directly to paycheckprotection@praxia-partners.com.
I still have questions.
We understand that this program is complicated and your situation may be unique. This bill and subsequent rules are several hundreds of pages long. The last thing we want to have happen is for organizations and businesses to not access funds because of confusion around the program, or lack of access to a banker. We’re happy to walk businesses and nonprofits through the program, regardless of if they’re looking for a banking partner to apply with, or just have questions: reach out to us directly at paycheckprotection@praxia-partners.com.
