As of July 1, 2020 the deadline has passed for small businesses to apply for forgivable Paycheck Protection Program loans.
The Paycheck Protection Program (of the CARES Act) prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. All information can be found here: https://home.treasury.gov/cares
Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
Active Paycheck Protection Program (PPP) lenders, organized by state
How to Calculate Maximum Loan Amounts - By Business Type
The Small Business Administration (SBA), in consultation with the Department of the Treasury, is providing this guidance to assist businesses in calculating their payroll costs for purposes of determining the amount of a Paycheck Protection Program (PPP) loan businesses can apply for.
- How to Calculate Loan Amounts (SBA Provided)
- NAV CARES Act Calculator
- Guidance from Verrill Law
- Sample bank provided calculation sheet
- Paycheck Protection Program FAQ document
- Business Loan Program Temporary Changes; Paycheck Protection Program – Additional
Eligibility Criteria and Requirements for Certain Pledges of Loans. View Interim Final Rule
- Affiliation Rules
- Interim Final Rule (IFR) on affiliation
- FAQ on Faith-based Orgs and PPP
- Borrower Application
- PPP Loan Guaranty Form
- E-Tran Pro Tip: Be careful when entering passwords to E-Tran. Encourage your team members to enter passwords carefully. Repeated attempts to enter a password into the system can result in temporary account suspension (due to security protocols) requiring password reset.
- Find a lender tool: https://www.sba.gov/paycheckprotection/find
- Information can always be found at www.sba.gov/paycheckprotection and www.treasury.gov/cares
- How to request changes to information on the sba.gov website: www.sba.gov/support (file a ticket)