We Still Have PPP Funds - Apply NOW
SBA is still accepting applications for Paycheck Protection Program (PPP) funding, but only from Community Development Financial Institutions -- known as CDFIs.
Banks, credit unions, and other non-CDFI lenders are no longer able to submit applications to the SBA. But WE CAN.
The special PPP funds reserved for CDFIs could run out any minute. Apply now and you have a good chance of receiving PPP funds.
Who can apply?
This program is for any small business with less than 300 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organizations, and other organizations affected by COVID-19.
Will I have to pay back this loan?
The loan may be fully forgiven if the funds are used for payroll and benefits costs, interest on mortgages, rent, and utilities and you have not reduced your payroll by more than defined amount. Please see the Forgiveness page for important information on the status of the forgiveness program.
The purpose of this loan/forgiveness is to enable and encourage small businesses to protect their employees. Loan payments will be deferred for sixteen months, and no collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees. 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. Click on the forgiveness link below for more information.
How do I apply?
Click on the Apply link above to start your application for a first or second round PPP loan.