The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. You can download a guide (below) which provides in-depth information and answers these questions:
- When can I apply?
- Where can I apply?
- Who can apply?
- What do I need to apply?
- What other documents will I need to include in my application?
- Do I need to first look for other funds before applying to this program?
- How long will this program last?
- How many loans can I take out under this program?
- What can I use these loans for?
- What counts as payroll costs?
- How large can my loan be?
- How much of my loan will be forgiven?
- How can I request loan forgiveness?
- What is my interest rate?
- When do I need to start paying interest on my loan?
- When is my loan due?
- Can I pay my loan earlier than 2 years?
- Do I need to pledge any collateral for these loans?
- Do I need to personally guarantee this loan?
- What do I need to certify?
Download PDF file of complete guide: PPP–Fact-Sheet
Download PDF file of PPP program application form: PPP_Borrower_Fillable_App_SBA_rev_20200403
