CARES Act: Payroll Protection Program
The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Borrowers may be eligible for PPP loan forgiveness.
In order to reach the smallest businesses, SBA will offer PPP loans to businesses with 20 or less employees and sole proprietors only from Wednesday, February 24 through Wednesday, March 10, 2021. President Biden has also announced additional program changes to make access to PPP loans more equitable.
1. Find a lender:
2. Identify a loan:
First Draw PPP Loans: If you have not received a PPP loan before, First Draw PPP Loans are available to you.
Second Draw PPP Loans: If you have previously received a PPP loan, certain businesses are eligible for a Second Draw PPP Loan.
SBA also offers additional Coronavirus relief.