For a second-draw loan for self employed, private contractors etc; does it work per business? or per individual?
For instance, if the individual owns 2 businesses. Business "A" made more in 2020 than in 2019, (So is ineligible) but business "B" made less in 2020 than in 2019. Can one take a 2nd PPP for business "B", even though when all his personal income is calculated together, he/she made more in 2020?
Also, what would be the benefit of calculating from 2020 income vs 2019?
Also, does the 25% reduction in income work per quarter or annually? Let's say in Q1 it was 25% less, but annually it wasn't a 25% reduction. Or maybe annually the business made more than the previous year, but in Q1 it was 25% less, would they qualify for Second-Draw?