Username doesn’t check out....
I read through the bill
You couldn't pay me enough to read the bill
Seriously, I've been around law long enough to know to not reinvent the wheel and to wait for the big firms to prepare their analyses / client guidance. They understand all the intricacies and nuances of this stuff.
I’m not sure how the 25% will be determined, but based on the first round(s) of PPP:
1. SBA will issue guidelines that’ll direct how it’ll be determined
2. Your PPP lender will interpret those guidelines and actual requirements/process will vary from one lender to another.
So, the bill doesn't specify how the 25% drop is determined? I guess this is just as "wild west" as in May and we'll have to wait for 10 different drafts of regs to get a handle on this.
Will companies who meet the 25% drop in revenues be eligible for the exact same amount of a PPP loan as they were the first time based on same the eligibility criteria that was used last time? That part isn't clear to me, either.