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Paycheck Protection Plan Overview

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.


SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage, interest, or utiities.


The Paycheck Protection Program will be available through June 30, 2020.


This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.


An overview of this program is attched here for your reference. If you think you may qualify for this program, some additional questions are answered in the attached fact sheet.


To learn more, visit the SBA website at https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp


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