Paycheck Protection Program
The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. The PPP program will close May 31, 2021. SBA is currently offering:
- First Draw PPP Loans for first time program participants
- Second Draw PPP Loans beginning January 13, 2021 for certain businesses who have previously received a PPP loan
SBA is currently accepting Paycheck Protection Program PPP loan applications from participating community financial institutions (CFIs) and lenders with under $1 billion in assets, which includes approximately 5,000 institutions, including community banks, credit unions, and farm credit institutions. Lender Match can help you find a participating lender. The program will open to all lenders on January 19, 2021.
SBA also offers additional Coronavirus relief like:
- COVID-19 Economic Injury Disaster Loans (EIDL)
- SBA debt relief (for existing borrowers)