Notice: PPP ends May 31, 2021
The Paycheck Protection Program ends on May 31, 2021. All eligible entities can apply through a participating lender until then.
PPP is a loan designed to provide a direct incentive for small businesses to keep their workers on payroll. First Draw PPP loans can be used to help fund payroll costs, including benefits, and may also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.
SBA will for ive I s if all employee retention criteria are met, and the funds are used for eligible expenses.
Who may qualify
The following entities affected by COVID-19 may be eligible:
organization, or tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of:
Any bu5iness with a NAICS code that begins with 72 (Accommodations and Food Services) that has more than one physical location and employs less than 500 per location