All News > Paycheck Protection Program

Paycheck Protection Program

Apr 06, 2020

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

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.

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.

Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program will be available through June 30, 2020.

For affiliation rules applicable for the Paycheck Protection Program, click here.

The Interim Final Rule for Applicable Affiliation Rules for the Paycheck Protection Program information is being posted in advance of publication in the Federal Register.  The official version will appear in the Federal Register.

Frequently Asked Questions for Faith-Based Organizations Participating in the Paycheck Protection Program and Economic Injury Disaster Loan Program

For more information click here



Read More News

Aug 23, 2020
Weaning is the most stressful time in a beef calf’s life.
Jul 23, 2020
COVID-19 Update from Dean Danielson Safety and Compliance Manager
Jun 17, 2020
So, what should you scout for now?

Related Topics