First-Time PPP Borrower FAQs

Update: In order to reach the smallest businesses, from Wednesday, February 24 – Wednesday, March 9, 2021, the SBA will only accept PPP loans for businesses and nonprofits with fewer than 20 employees. Additional program changes have been announced.

  • If your business has 1 - 19 employees, please proceed with your application! New federal guidelines are also available for sole proprietors, independent contractors, and self-employed individuals.
  • If your business has 20 or more employees, you may submit your PPP loan application via our online portal and we can help ensure it is ready to be sent for processing to the SBA starting on March 10.
  • For more information on the SBA’s assistance to small businesses, visit sba.gov/ppp or treasury.gov/cares
What is the SBA Paycheck Protection Program?

The Small Business Administration (SBA) Paycheck Protection Program (PPP) provides assistance to small businesses affected by the COVID-19 pandemic. The latest government stimulus package commits $284 billion to PPP loans for first-time and second-time PPP borrowers and simplified loan forgiveness.

SBA funds are limited. The deadline to apply is currently March 31, 2021.

The information provided is intended for informational use only and is subject to change.