Sole proprietors and businesses with fewer than 20 employees have until Tuesday, March 9 at 5 p.m. EST to take advantage of the special application window for Paycheck Protection Program (PPP) loans exclusively for small businesses.
PPP provides loans to help businesses keep their workforce employed during the COVID-19 crisis. Borrowers may be eligible for PPP loan forgiveness. Borrowers may also be eligible for PPP loan forgiveness in some cases.
To apply for PPP, there are two main steps businesses need to follow:
- Find a lender:
- Identify a loan:
- First Draw PPP Loans: If you have not received a PPP loan before, First Draw PPP Loans are available to you.
- Second Draw PPP Loans: If you have previously received a PPP loan, certain businesses are eligible for a Second Draw PPP Loan.
Click here for more information.