Stimulus Ppp Loan Application

Use this form to apply for the paycheck protection program ppp with an eligible lender for a first draw loan.

Stimulus ppp loan application. This can be your first or second ppp loan. Ppp loans will cover additional expenses including operations expenditures property damage costs supplier costs and worker protection expenditures. Borrowers may apply for ppp loans and other sba financial assistance including economic injury disaster loans eidls 7 a loans 504 loans and microloans and also receive investment capital from small business investment corporations sbics.

Start your ppp loan application now. Paycheck protection program application start date. 11 2021 the start date for small lenders with less than 1 billion in assets was set for jan.

You cannot get more than two. 15 2021 and ppp loans from all sba. Community financial institutions began making ppp loans on jan.

Key ppp updates for 2021 include. As with the first two rounds of the ppp applications must be submitted online at banks and other sba approved lenders. Like stimulus checks and increased unemployment benefits the ppp is one of the economic lifelines federal stimulus laws have created to help families and businesses weather the economic storms the pandemic has caused.

However you cannot use your ppp loan for the same purpose as your other sba loan s. What to know about the new small business loans. Ppp borrowers can set their ppp loan s covered period to be any length between 8 and 24 weeks to best meet their business needs.

In may the sba issued an interim final rule that allowed a borrower to request a supplemental loan if after the time of application regulations were issued that would have increased the loan amount it could have received. Authorized as part of the coronavirus stimulus package passed in december the ppp has been. While the ppp faced criticisms last year for providing loans to larger businesses that had better ties to banks the program.