Time Is Running Out to Apply for PPP Loans—Deadline June 30
The Paycheck Protection Program (PPP), which was established by section 1102 of the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act back in March, still has about $120 billion available for potential borrowers, but they need to act quickly. The PPP will no longer accept loan applications after Monday, June 30.
Please visit the Small Business Administration (SBA)’s website for information on how to apply for a loan; Frequently Asked Questions are answered online as well. First-time applicants are encouraged to contact their lender to ensure their eligibility for the program. The SBA has a tool available to assist in locating an approved PPP lender.
The loan application form, most recently revised on June 12, is available here, but applicants should consult the SBA website for the most recent application form and up-to-date regulatory guidance.