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Paycheck Protection Program

Updated: February 24, 2021

To provide additional support to the smallest businesses, the Small Business Administration (SBA) has announced that it will only accept PPP loans applications from organizations with 19 employees or less from February 24 – March 9, 2021. Our PPP team will continue to work on all submitted applications during this time and will resume submitting completed applications for all other businesses to the SBA after March 9, 2021. The SBA will continue to accept completed loan applications until March 31, 2021 or until funding runs out, whichever comes first.

The SBA Paycheck Protection Program was established as part of the CARES Act to help businesses keep their workforce employed during the Coronavirus (COVID-19) crises. Small businesses are able to apply for loans that may be 100% forgiven when used for eligible expenses. Visit sba.gov/ppp for more details and the latest updates on the Paycheck Protection Program.

Apply for Your First PPP Loan

If this is the first PPP loan for your business, you’re able to apply for a first draw loan for up to 2.5 times the business’ average monthly payroll costs for a maximum of $10 million.

Apply for Your Second PPP Loan

If your business already received a PPP loan, you’re able to apply for a second draw loan for up to 2.5 or 3.5 (depending upon your type of business) times the business’ average monthly payroll costs for a maximum of $2 million.

Loan Forgiveness on Loans up to $150,000

We continue to work on the changes to the loan forgiveness application process while waiting for the final guidance from the SBA. We are not accepting loan forgiveness applications at this time.

Loan Forgiveness on Loans over $150,000

We continue to work on the changes to the loan forgiveness application process while waiting for the final guidance from the SBA. We are not accepting loan forgiveness applications at this time.

More information or questions

For more information including the comprehensive program rules, visit sba.gov/ppp. If you have questions, review our FAQs or contact us.

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