SBA Paycheck Protection Program (PPP) Information

PPP Now open until Aug. 8 for new applicants

On the fence about whether the PPP is right for your situation? Set up and advising appointment to discuss whether the PPP is a good fit for your business.

SBA Releases NEW Forgiveness Application … along with simpler “EZ” version. Jump to SBA PPP Forgiveness Info

Read about PPP Changes: From 2-year to 5-year payback, from 75% on payroll to 60%, and a longer period to return to full staffing.

SBA Releases PPP Forgiveness Application | Posted May 18, 2020 | View & Download Here

New PPP Loan Fact Sheet here | New PPP FAQ Sheet (Always Updated) Here

Those who have already applied for PPP should contact their bank to make sure everything is ready for this round of funding.
If you have not applied, you should contact your bank and complete the application as soon as possible.

Don’t have a local bank? Is your bank not participating in PPP?  Here are a few non-bank funders doing PPP:
Forgiveness

Here’s a handy tool to help you calculate the amount of your PPP loan which may be forgiven. We recommend you go through this with an SBDC business advisor or your own team or accounting support staff:

SBA PPP Funding & Forgiveness Calculation Sheet

Watch out for Phraud & Phishing

The SBA Programs recently issued a scam & fraud alert: If you are in the process of applying for an SBA loan and receive email correspondence asking for PII, ensure that the referenced application number is consistent with the actual application number. Look out for phishing attacks/scams utilizing the SBA logo. These may be attempts to obtain your personally identifiable information (PII),to obtain personal banking access, or to install ransomware/malware on your computer. Any email communication from SBA will come from accounts ending with sba.gov. The presence of an SBA logo on a webpage does not guaranty the information is accurate or endorsed by SBA. Please cross-reference any information you receive with information available at www.sba.gov.

Additional Details

SBA Updated Guidance on Loans (Updated 4.15.20)
Forbes Abbreviated Summary of SBA Updated Guidance (Updated 4.15.20)

Are you an Independent Contractor? Here’s what you need to know to apply for the PPP.


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