MARCH 31, 2020

Learn More About The SBA's Paycheck Protection Program


The Paycheck Protection Program is designed to provide a direct incentive for small businesses to keep their workers on payroll by providing each small business a loan up to $10 million for payroll and certain other expenses. If all employees are kept on payroll for eight weeks, SBA will forgive the portion of the loans used for payroll, rent, mortgage interest, or utilities. Up to 100 percent of the loan is forgivable to small businesses.

Businesses – including eligible non-profits, veterans organizations, tribal concerns, sole proprietorships, self-employed individuals, and independent contractors described in the Small Business Act – with 500 or fewer employees may apply. Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries.

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan and an advance of up to $10,000.

Learn more about the resources the U.S. Small Business Administration is offering by clicking below.


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