LINCOLN – The Small Business Administration will resume accepting Paycheck Protection Program applications from participating lenders on Monday, April 27.
The Paycheck Protection Program is a loan product that a small business can work with their banker to obtain. PPP was designed to provide a direct incentive for small businesses to keep their workers on the payroll throughout COVID-19 closures.
Small businesses 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. Small businesses should consult with their local lender as to whether it is participating in the program.
More information about the Payroll Protection Program from the SBA:
Frequently Asked Questions for Lenders and Borrowers (04/26/2020)
How to Calculate Loan Amounts
For affiliation rules applicable for the Paycheck Protection Program, click here.
Read the Interim Final Rule for Applicable Affiliation Rules for the Paycheck Protection Program as posted in the Federal Register.
Frequently Asked Questions for Faith-Based Organizations Participating in the Paycheck Protection Program and Economic Injury Disaster Loan Program
