COVID 19 Resources

STATE PROGRAMS/RESOURCES: 

 

FEDERAL PROGRAMS/RESOURCES:

Paycheck Protection Program

The Small Business Paycheck Protection Program provides small businesses with resources needed to maintain their payroll, hire back employees who may have been laid off, and cover applicable overhead expenses.
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program

Find Paycheck Protection Program SBA-Approved Lenders
https://www.sba.gov/paycheckprotection/find

First Draw PPP Loans

  • Payroll costs, including benefits, mortgage interest, rent, utilities, worker Covid-19 protection costs, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations
  • PPP loans have an interest rate of 1%.
  • No collateral or personal guarantees are required.
  • Payments are deferred 10 months after the end of the covered period for the borrower’s loan forgiveness (either 8 weeks or 24 weeks).
  • Loans issued prior to June 5, 2020 have a maturity of two years. Loans issued after June 5, 2020 have a maturity of five years.
  • Eligibility includes businesses with 500 or fewer employees
  • Non-profits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors may apply
  • Deadline to apply March 31, 2021
  • https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program/first-draw-ppp-loans

Second Draw PPP Loans

  • Payroll costs, including benefits, mortgage interest, rent, utilities, worker Covid-19 protection costs, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations
  • Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses
  • Have no more than 300 employees
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.
  • Deadline to apply March 31, 2021
  • https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program/second-draw-ppp-loans

Paycheck Protection Program Loan Forgiveness

Paycheck Protection Program Loans Document Checklist

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