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Paycheck Protection Program. An SBA-backed loan that helped businesses keep their workforce employed during the COVID-19 crisis. Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.
Mar 13, 2024 · Where to apply for loan forgiveness. Effective March 13, 2024, all borrowers, regardless of loan size, can use SBA's direct forgiveness portal . Applying for forgiveness using the portal can take as little as 15 minutes.
Mar 18, 2021 · PPP First Draw Borrower Application Form. Use this form to apply for the Paycheck Protection Program (PPP) with an eligible lender for a First Draw loan.
The Paycheck Protection Program established by the CARES Act, is implemented by the Small Business Administration with support from the Department of the Treasury. This program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
Biden Administration takes steps to promote equitable access to SBA relief. Specifically, from February 24 to March 9, 2021, SBA had a 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees.
Jul 28, 2021 · WASHINGTON – The U.S. Small Business Administration (SBA) is launching a streamlined application portal to allow borrowers with Paycheck Protection Program (PPP) loans $150,000 or less through participating lenders to apply for forgiveness directly through the SBA.
• The Applicant is eligible to receive a loan under the rules in effect at the time this application is submitted that have been issued by the Small Business Administration (SBA) and the Department of the Treasury (Treasury) implementing the Paycheck Protection Program under Division A,
