Paycheck Protection Program
What is it? The Paycheck Protection Program (PPP) is a program that provides eight weeks of cash-flow assistance to small businesses through 100 percent federally guaranteed loans to employers who maintain their payroll during the COVID-19 pandemic.
PPP is a forgivable loan. If the employer maintains its payroll, then the portion of the PPP loan used for covered payroll costs, interest on mortgage obligations, rent, and utilities would be forgiven, which would help workers to remain employed and affected small businesses and our economy to recover quickly from this crisis. This proposal would be retroactive to February 15, 2020 to help bring workers who may have already been laid off back onto payrolls.
Resources from the SBA:
The Paycheck Protection Program is specifically designed to help small businesses keep their workforce employed. Visit SBA.gov/Coronavirus for more information.
Federal Resources for U.S. Small Businesses
This platform provides small businesses with access to a consolidation of COVID-19 related information and resources from multiple federal agencies. This site is developed through a partnership between the Association of Women Business Center and America’s SBDC and is supported by the U.S. Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Visit https://covid-sb.org/ for more information.
Resources from Treasury:
Resources on the Paycheck Protection Program from the Treasury can be found on the Assistance for Small Businesses page. Visit treasury.gov/cares for more information on SBA’s assistance to small businesses.
Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standard.
Program Overview
- Top-line Overview of PPP (3/31/2020)
- SBA Paycheck Protection Program Loan Report (4/16/2020)
- SBA Paycheck Protection Program Loan Report Round 2 (6/22/2020)
For Borrowers
- More information (3/31/2020)
- Search Tool: Find an Eligible Lender
- Borrower Application Form (revised 6/12/2020)
- Borrower Application Form (4/2/20)
- Applicable Affiliation Rules
- How to Calculate Loan Amounts
- Loan Forgiveness Application
- Loan Forgiveness Application Form EZ Instructions
- Loan Forgiveness Application Form EZ
- Loan Forgiveness Application Instructions (revised 6/16/2020)
- Loan Forgiveness Application (revised 6/16/2020)
- Guidance on Refinance of EIDL Loans with PPP Loan Proceeds and Lender Remittance of EIDL Refinance Proceeds to SBA (6/22/2020)
For Lenders
- More information (3/31/2020)
- Lender Application Form (revised 6/12/2020)
- Lender Application Form (4/2/2020)
- Lender Application Form for Federally Insured Depository Institutions, Federally Insured Credit Unions, and Farm Credit System Institutions (4/3/2020)
- Lender Application Form for Non-Bank and Non-Insured Depository Institution Lenders (4/8/2020)
- Guidance on Whole Loans Sales of PPP Loans
- Guidance on PPP Lender Processing Fee Payment and 1502 Reporting Process
Program Rules
- Frequently Asked Questions (5/27/2020)
- Interim Final Rule 1 (originally posted April 2, 2020)
- Interim Final Rule on Applicable Affiliation Rules (originally posted 4/3/2020)
- Interim Final Rule on Additional Eligibility Criteria and Requirements for Certain Pledges of Loans (originally posted 4/14/2020)
- Interim Final Rule on Requirements for Promissory Notes, Authorizations, Affiliation, and Eligibility (originally posted 4/24/2020)
- Interim Final Rule Additional Criterion for Seasonal Employers (originally posted 4/27/2020)
- Interim Final Rule on Disbursements (originally posted 4/28/2020)
- Interim Final Rule on Corporate Groups and Non-Bank and Non-Insured Depository Institution Lenders (originally posted 4/30/2020)
- Interim Final Rule on Nondiscrimination and Additional Eligibility Criteria (originally posted 5/5/2020)
- Interim Final Rule on Extension of Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan Request (originally posted 5/8/2020)
- Interim Final Rule on Loan Increases (originally posted 5/13/2020)
- Interim Final Rule on Eligibility of Certain Electric Cooperatives (originally posted 5/14/2020)
- Interim Final Rule on Treatment of Entities with Foreign Affiliates (originally posted 5/18/2020)
- Interim Final Rule on Second Extension of Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan and Lender Reporting (5/20/2020)
- Interim Final Rule on Loan Forgiveness (originally posted 5/22/2020)
- Interim Final Rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities (originally posted 5/22/2020)
- Interim Final Rule on Eligibility of Certain Telephone Cooperatives (6/5/2020)
- Interim Final Rule on Revisions to First Interim Final Rule (originally posted 6/11/2020)
- Interim Final Rule on Additional Revisions to First Interim Final Rule (originally posted 6/12/2020)
- Interim Final Rule on Revisions to the Third and Sixth Interim Final Rules (originally posted 6/17/2020)
- Interim Final Rule on Revisions to Loan Forgiveness Interim Final Rule and SBA Loan Review Procedures Interim Final Rule (6/22/2020)
Paycheck Protection Program Heat Maps
The following heat maps are based on the SBA Paycheck Protection Program Report published 6/22/20.
