Paycheck Protection Program (PPP)

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on payroll.

SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.

PPP Resources:

SBA Website

Application

Final Ruling

SBA FAQs

Intuit Eligibility Tool

Updates and C&A Postings:

New Guidance 4/6/2020

No Deductions for Expenses Paid by PPP Debt that is Forgiven 5/4/2020

PPP Loan Forgiveness Available if Employee Refuses to Come Back 5/6/2020

Good News for PPP Loan Recipients 5/14/2020

PPP Loan Forgiveness Guidance Released 5/18/2020

PPP Loan Forgiveness Expansion Bill Signed by President 6/5/2020

New PPP Loan Forgiveness Guidelines and Applications Released 6/17/2020