The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) pandemic. PPP loans are available through May 31, 2021. SBA is currently offering two draws:
Who these loans are for:
First-Draw PPP Loans: For businesses that did not receive a PPP loan in 2020. This applies to:
Second-Draw PPP Loans: For businesses that previously received PPP funds in 2020. This Second Draw PPP Loan has the same general loan terms as their First Draw PPP Loan, and the full amount of the first draw PPP loan must have been used prior to the disbursement of the second draw PPP loan.
* Applications and loans subject to SBA terms and conditions. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.