Paycheck Protection Program Loan Information
The Paycheck Protection Program resumed accepting applications July 6, 2020, at 9:00 AM EDT in response to President signing the program’s extension legislation. The new deadline to apply for a Paycheck Protection Program loan is August 8, 2020.
If you have been planning to apply for a Paycheck Protection Program (PPP) loan but have not yet had the opportunity to do so, we want to share some good news with you. On July 4, 2020, the Federal government extended the availability of loans under the Paycheck Protection Program (PPP) until August 8, 2020. Previously, the final day to apply for a PPP loan was June 30, 2020. As a reminder, PPP loans are designed to be 100% forgivable as long as the proceeds are spent in accordance with program rules. PPP loans are available based on ten weeks of payroll costs in a specified base period. As of June 30, the fund for PPP had an estimated $130 billion remaining to support forgivable loans.
CLICK HERE for further information on the PPP Loan Program