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SBA Payment Protection Program

As of August 8, 2020, the Small Business Adminstration (SBA) is no longer accepting applications for Paycheck Protection Program (PPP) loans.


Loan Details

Your PPP loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 60% of the forgiven amount must have been used for payroll).

Frequently Asked Questions about PPP Loan Forgiveness (08-04-2020)

  • PPP loans have an interest rate of 1%.
  • Loans issued prior to June 5 have a maturity of 2 years. Loans issued after June 5 have a maturity of 5 years.
  • Loan payments will be deferred for six months.
  • No collateral or personal guarantees are required.
  • Neither the government nor lenders will charge small businesses any fees.

Loan Forgiveness

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease. The loan forgiveness form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers, including:

  • Options for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles.
  • Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the 24-week period after receiving their PPP loan.
  • Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness.
  • Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by June 30.
  • Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was decline.

For the latest PPP Loan Forgiveness Application, please check the SBA's site here.


Small Business COVID-19 Resource Center


Business Tips

Some tips from the Centers for Disease Control on avoiding the spread of the disease.



Don’t Let Coronavirus Break The Important Bond Between You And Your Customers


Economic Injury Disaster Loans

Emergency advance up to $10k To help small businesses during the Pandemic.


Employee Working From Home

Best Practices For Having Employees Work From Home


Paid Leave Payroll Tax Credits

Employer Paid Leave Requirements And Payroll Tax Credits


Paycheck Protection Program

Cover payroll costs and other operating expenses.