Department of Treasury Releases PPP Loan Application and Information
The Department of Treasury has released the Paycheck Protection Program application and supplemental information, all available on their website. We strongly recommend small businesses with employees to:
- Review the application and accompanying borrower guide ASAP; and
- Contact your local banker to get started with the application process.
As a reminder, funds from this program:
- Can be used for employee salaries under $100,000, paid sick or medical leave, insurance premiums, and mortgage, rent and utility payments;
- Are 100% forgivable if used for the above purposes; and
- Are available to businesses or 501(c)(3) nonprofits with less than 500 employees, including sole-proprietors, independent contractors, and other self-employed individuals.