Paycheck Protection Program (PPP) Deadline Extended to May 31, 2021
Posted on Mar 31, 2021 in COVID-19, News
An SBA-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis.
The Paycheck Protection Program (PPP) is a loan designed to provide a direct incentive for small businesses to keep their workers on payroll. Borrowers may be eligible for PPP loan forgiveness.
SBA is currently offering PPP loans until May 31, 2021. President Biden announced program changes to make access to PPP loans more equitable.
1. Find a lender:
2. Identify a loan:
- First Draw PPP loans: If you have not received a PPP loan before, First Draw PPP loans are available to you.
- Second Draw PPP loans: If you have previously received a PPP loan, certain businesses are eligible for a Second Draw PPP loan.
SBA also offers additional COVID-19 relief.