Application for the Paycheck Protection Program Open
Posted by Philadelphia Association of Community Development Corporations on April 7, 2020
About the Paycheck Protection Program (PPP)
PPP provides eight weeks of cash-flow assistance to small businesses and nonprofits with up to 500 employees through 100 percent federally guaranteed loans. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
- The application for small businesses and sole proprietorships opens TODAY.
- Business owners can find a lender here: https://www.sba.gov/paycheckprotection/find
- The Philadelphia Inquirer responds to a list of FAQs. Read here: https://www.inquirer.com/business/small-business/sba-coronavirus-payroll-protection-program-20200403.html
Learn more here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp
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