The last date to submit 2nd PPP is March 31 2021. The Biden-Harris Administration and the SBA announced today that they will be revising certain aspects of PPP to further promote equitable relief for America’s mom-and-pop businesses. Specifically, the SBA will allow sole proprietors, independent contractors, and self-employed individuals to receive more financial support.  The maximum loan for Second Draw PPP applicants is 2.5x average monthly 2019 or 2020 payroll costs up to $2 million. Applicants in the Hospitality, lodging and Food Services Businesses (click HERE for NAICS 72 to confirm), the maximum loan amount for a Second Draw PPP Loan is 3.5x average monthly 2019 or 2020 payroll costs up to $2 million.