Applications for SBA Paycheck Protection Loans are Being Accepted Now!


woman-writing-on-a-notebook-beside-teacup-and-tablet-733856.jpg

The SBA announced that it will be accepting applications on Friday, April 3rd, for its  Paycheck Protection Program, which provides forgivable small business loans of up to $10 million to cover payroll and certain other expenses, or 2.5 times your total payroll expenses for the loan period.    

It is important to apply soon, because loans will be awarded on a first-come, first-served basis, until the total loan pool of $350 billion is allocated.

The Washington Post published an article that offers an overview of the Paycheck Protection Program and the loan application process.

Additional Helpful Resources:

  • Here is a link to the sample loan application form.

  • This article includes a guide to calculating average payroll expenses.

  • The U.S. Chamber of Commerce released a PPP loan fact sheet with helpful information.  

  • This article provides detailed information for small business owners applying for a PPP loan. 

Stay Up To Date

With Good2Know Network, it is easy to stay up-to-date. Sign up to get our free weekly summary of news, events, and local resources.