Introduction

Relief for small businesses was included as part of the CARES Act stimulus package related to the COVID 19 outbreak.  The Small Business Administration (SBA) has launched a number of initiatives, including The Paycheck Protection Program.

• To apply for PPP Loan forgiveness go to our PPP Forgiveness page
• See the latest update on PPP loans and forgiveness.
• For more information and resources visit the U.S. Department of the Treasury website 

About the SBA Paycheck Protection Program

The Paycheck Protection Program (PPP) is a short term lending option designed to help small businesses with cash flow and maintain their employment levels. Any public, private or not-for-profit enterprise with 500 or fewer employees may qualify. The businesses must have been in operation before February 15, 2020. 

Eligible businesses

• All businesses, including non-profits, veterans organizations, tribal concerns, sole proprietorships, self-employed individuals, and independent contractors, with 500 or fewer employees.
  
  

Eligible expenses

• Employee salaries
• Payroll support including the continuation of benefits
• Interest payments on mortgage debt of the business
• Business rent payments
• Utilities
  
  

Maximum loan amount

• Up to $10 million

In addition to PPP, the Small Business Administration has other programs to help small business cope with the economic consequences of the COVID -19 related business disruption:

• Traditional SBA Loan
• Express Bridge Loan
• Economic Injury Disaster Loan
• SBA Debt Relief
• Paycheck Protection Program

To view these programs, and to get the latest information from the Small Business Administration visit: www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

For more information and resources visit the U.S. Department of the Treasury website