Last night, the US House of Representatives voted 418-to-3 to extend the PPP

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This is great for the people that haven’t had a chance to apply. This is great news.

Next week the Senate should vote on the bill. If it passes, the President will sign it and the deadline to apply for a PPP loan will be moved from March 31 to May 31. If it does pass than it would allow more people to apply.

You work a side gig like me? You can apply. With womply. Like I did.

With the proposed extension, there where more changes done that would allow more businesses get access to PPP.

Here are a few of those changes:

  • Bigger loans
    Tens of millions of Americans are eligible for PPP loans and now they can get even more money. The latest change allows 1099s, independent contractors, self-employed people, sole proprietors, and single member LLCs to use Gross Income instead of Net Profits to calculate their loan size, which means larger loans on average. Sure does help out.

  • More businesses qualify
    Factors that were previously disqualifying have been removed so more businesses are eligible. For example, applicants who defaulted on student loans, have a criminal record, or were previously told they don’t qualify may re-apply now. This was a nice change allows for more businesses to apply by using the Gross income.

  • Second Draw loans now available
    With PPP Fast Lane we will help you get your Second Draw loan ASAP automatically. But any business that received their First Draw PPP loan in 2021 can now apply for their Second Draw thanks to a recent rule change.

Apply now!

Fast Lane now open
Womply has upgraded Fast Lane to support all independent contractors, 1099s, self-employed people, and sole proprietors without employees. Most applications are now processed in under 24hrs. You can even apply with your draft tax return from 2020.

As I mentioned in a previous post I applied two weeks ago for the PPP I already got the Promissory Note to sign and should get the funds quickly.
This is great for UTOPIS

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Idk if they can get 10 repulicans to agree on in the senate

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I wonder how long this PPP will last. The economy has been horribly messed up by the lockdowns and in truth, I do not know how long it will take to fix it. I think they want 4.5% unemployment by the end of the year but I think this is only possible by dropping people off the workforce (unemployed for too long).

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Well to apply it would be the 31st of March , but they are trying to extend it to I think May.

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