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The Biden-Harris administration and the US Small Business Administration have made changes to the Paycheck Protection Program (PPP) with the goal of reaching small businesses who have not received a PPP loan. Changes include a 14-day exclusive period for small businesses and nonprofits with fewer than 20 employees. Larger business will still have plenty of time to apply before the program expires on March 31st. 

For the most up-to-date program details, visit and  


Paycheck Protection Program resumed on January 11, 2021

SBA reopened the Paycheck Protection Program (PPP) for First Draw Loans. You can apply for a First Draw PPP Loan until March 31, 2021. 

SBA began accepting applications for Second Draw PPP Loans on January 13, 2021.

At least $25 billion is being set aside for Second Draw PPP Loans to eligible borrowers with a maximum of 10 employees or for loans of $250,000 or less to eligible borrowers in low or moderate income neighborhoods.

Updated PPP Lender forms, guidance, and resources are available at and


President Trump signed into law the Paycheck Protection Program and Health Care Enhancement Act, which provides additional funding for small businesses affected by the coronavirus pandemic.

The Small Business Administration will resume accepting PPP loan applications on Monday, April 27 at 10:30 AM EDT from approved lenders on behalf of eligible borrowers.

Borrowers should carefully review PPP regulations and guidance and the certifications required to obtain a loan.

Learn more about the Paycheck Protection Program



The Paycheck Protection Program has officially run out of money, effective April 16, 2020, as stated in the Small Business Administration (SBA) website: " The SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding". Many businesses were left unfunded or unable to find a bank that would process their application. 

Congress is expected to approve additional funding for the program. Below is a summary of the $342 billion dollars approved under the PPP program, in just two weeks. 

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*As per the SBA's PPP Program report dated 4/16/2020

CARES Act (PL 116-136)

On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide assistance for individuals and businesses affected by the coronavirus pandemic.

Funding options for small businesses:

  • $350 billion in forgivable loans for small business through the Paycheck Protection Program

  • Advances on SBA disaster loans that never have to be repaid

  • Forgiving existing non-disaster SBA loan payments over the next six months


Paycheck Protection Program (PPP)

  • The CARES Act established the Paycheck Protection Program to give small business access to funds, in the form of loans, to help cover payroll costs and some operating expenses. These loans are issued by approved lenders and are guaranteed by the Small Business Administration (SBA).

  • Loan payments will be deferred for six months.

  • No collateral or personal guarantees are required.

  • Loans will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities. At least 75% of the forgiven amount must have been used for payroll. Forgiveness is based on the employer maintaining employees and salary levels.  

  • Small businesses with 500 or fewer employees (including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors) are eligible. Businesses with more than 500 employees are eligible in certain industries. 

  • The program is open until June 30, 2020. 

  • Apply asap before funds are exhausted.

  • Find eligible lenders in the SBA's website

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