Paycheck Protection Program deadline is Aug. 8

The Paycheck Protection Program has resumed accepting applications. The new deadline to apply for a Paycheck Protection Program loan is August 8.

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

The Small Business Administration (SBA) will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.

How To Apply
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program. View a list of lenders participating in the Paycheck Protection Program by state at www.sba.gov/document/support-paycheck-protection-program-participating-lenders.

Applications are online at www.sba.gov/document/sba-form-2483-paycheck-protection-program-borrower-application-form.

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