What Is the Paycheck Protection Program?

Recently added as an SBA loan program, the Paycheck Protection Program (PPP) provides federally-guaranteed loans to eligible small businesses. Loans are the lesser of $10 million and a calculated amount based on payroll and may be forgivable. These loans are intended to help small businesses retain employees throughout and after the Coronavirus (COVID-19) crisis.

Currently, the Small Business Administration (SBA) has suspended its acceptance of PPP applications through the CARES Act. We are hopeful that federal funds will be reallocated to PPP in the near future. We encourage you to continue submitting applications, as this will mark your spot in line when applications begin processing again. As soon as SBA allows applications to resume, we will work diligently to finalize the processing of applications.

Apply for a PPP loan