Paycheck Protection Program
Notice: Paycheck Protection Program
The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Borrowers may be eligible for PPP loan forgiveness.
1. Find a lender:
2. Identify a loan:
- First Draw PPP Loans: If you have not received a PPP loan before, First Draw PPP Loans are available to you.
- Second Draw PPP Loans: If you have previously received a PPP loan, certain businesses are eligible for a Second Draw PPP Loan.
SBA also offers additional Coronavirus relief.
An SBA-backed loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
COVID-19 Economic Injury Disaster Loans
This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue.
Cross Program Eligibility on SBA Coronavirus Relief Options
A summary of criteria that must be met when considering different funding options
| PPP Applicant | Shuttered Venue Operators Grant Applicant | COVID-19 EIDL Applicant | |
|---|---|---|---|
| PPP Recipient | First Draw PPP borrowers may be eligible to apply for Second Draw PPP loans | May apply for SVOG if received a PPP loan prior to 12/27/20 | May apply for EIDL; PPP and EIDL can’t be used for the same purpose/costs |
| Shuttered Venue Operators Grant Recipient | Not eligible to apply for PPP loan | May be eligible to receive a supplemental SVOG award | May apply for EIDL; SVOG and EIDL can’t be used for the same purpose/costs |
| COVID -19 EIDL Recipient | May apply for PPP; EIDL and PPP can’t be used for the same purpose/costs | May apply for SVOG; EIDL and SVOG can’t be used for the same purpose/costs | The same business cannot apply for more than one EIDL |
