SBA Paycheck Protection PROGRAM

PPP Status & Recommendations

The Paycheck Protection Program (PPP) is now closed and loan applications are no longer being accepted.  

PPP Forgiveness applications are now being accepted and should be submitted to the PPP lender.

PPP Loan Forgiveness Information & Applications

The SBA website states the SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses. Click here to read more about PPP loan forgiveness.  

Additional information and guidance:

Frequently Asked Questions (FAQ) for Lenders and Borrowers (8/11/20) 

Frequently Asked Questions on Loan Forgiveness (8/11/2020)

Interim Final Rule on Treatment of Owners and Forgiveness of Certain Nonpayroll Costs

Other Interim Final Rules issued jointly by the SBA and U.S. Treasury to provide guidance to seasonal employers, non-profits, and other types of businesses and employers can be found here, under the Program Rules section.

Links to PPP Loan Forgiveness applications:

Paycheck Protection Program EZ Loan Forgiveness Application Instructions for Borrowers  

Paycheck Protection Program EZ Loan Forgiveness Application Form 3508EZ 

Paycheck Protection Program Loan Forgiveness Application Instructions for Borrowers 

Paycheck Protection Program Loan Forgiveness Application 

Businesses that obtained both a PPP and an EIDL can use PPP loan proceeds to effectively refinance the EIDL for a lower interest rate:

Guidance on Refinance of EIDL Loans with PPP Loan Proceeds