The Paycheck Protection Program (PPP) is a $670 billion loan program established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law in March 2020, in an effort to minimize the economic impact of the COVID-19 pandemic on U.S. businesses and employees. The purpose of the Paycheck Protection Program

Many U.S. businesses qualify for funding through the Paycheck Protection Program, including certain small businesses that meet the Small Business Administration’s (SBA) size standards, self-employed individuals, sole proprietors, independent contractors, and certain nonprofit organizations, veteran organizations, and tribal concerns. PPP LOAN FAQ's

The initial deadline to apply for a PPP loan was June 30, 2020. However, on July 4, the president signed the program’s extension legislation, which reauthorized lending under the Paycheck Protection Program and extended the deadline until August 8, 2020. Read More FAQ's

Applications for PPP loans are submitted directly to an eligible private lender, such as a federally insured bank or credit union, and there is no penalty for filing applications with multiple lenders. However, keep in mind that you cannot legally receive PPP loans from multiple lenders and any attempt to do so fraudulently could