Provides 8 weeks of cash-flow assistance through 100 percent federally guaranteed loans to small employers who maintain their payroll during this emergency. If the employer maintains payroll, the portion of the loans used for covered payroll costs, interest on mortgage obligations, rent, and utilities would be forgiven.
This proposal would be retroactive to February 15, 2020, to
help bring workers who may have
already been laid off back onto payrolls.
What You Can Do
You can apply for the Paycheck Protection Program (PPP) at any lending institution that is approved to participate in the program through the existing U.S. Small Business Administration (SBA) 7(a) lending program and additional lenders approved by the Department of Treasury. FIND SBA APPROVED LENDERS HERE: https://www.sba.gov/sites/default/files/files/resourceguide_3110.pdf