Paycheck Protection Program Application
PLEASE READ THESE PAGES BEFORE STARTING THE PPP APPLICATION
The SBA closed their approval for PPP loans on August 8. We have chosen to keep this application site open to allow businesses to get in line, in the event Congress extends the PPP loan program for a fourth time. If you elect to submit an application, it will not be reviewed or processed unless PPP is extended.
We have organized the information on how to apply for a PPP loan into five sections, labeled A to E. PLEASE READ EACH SECTION CAREFULLY BEFORE BEGINNING YOUR APPLICATION. Reading these instructions before you start the application will make the process must easier and less frustrating. More than 90% of the email and phone questions we receive are answered in these five sections.
The fives sections are:
- Section A – The steps in our process and what to expect. (Please pay particular attention to the Step 11 if your lender is a credit union.)
- Section B – How to enter information in the online application. Because the entire PPP process went live in less than two weeks after Congress enacted the CARES Act in late March, the online application was rushed into use. As a result, the application is a bit difficult to use. However, you should move through the process smoothly and quickly if you follow the instructions in Section B through E.
- Section C discusses the basic calculation for the amount of the loan for which a business is eligible – 2.5 times the “average monthly payroll.”
- Section D is organized into three parts – Part D-1 is for employers (companies with W-2 employees) and Part D-2 is for the self-employed (sole proprietorships, independent contractors, self-employed, etc.). The instructions in Section D will help you understand the limitations on each type of business and what documents you will need to upload.
- Section E is additional information that will help your application move smoothly through the SBA approval site. These are points that will not cause an issue with the online application (those points are covered in Section B), but are items we have discovered over time that will cause issues with the SBA portal we upload your application.
If you follow these instructions carefully and provide the required information and documents, your application can move through our site, including SBA approval, in two or three business days. If you do not follow the instructions carefully, your application can be held up for days or weeks awaiting additional information.
If you have been asked to upload supplementary documents, please click on the Update/ Status menu tab at the top of the page.