The Small Business Act Paycheck Protection Program authorizes up to $349 billion for low-interest loans of up to $10,000,000 to borrowers to fund eligible payroll costs, interest on mortgage payments (which includes mortgages on real property and personal property), rental payments, utilities payments, and for other permitted purposes. The loans made under the Paycheck Protection Program would be eligible for forgiveness for certain payroll and other operating costs, as long as the borrowers maintain their payrolls to fund payroll costs and certain other expenses.
Below is a list of our current guidance on the Paycheck Protection Program. Please contact me with specific questions.
SBA Loan Resources
3.26.20 | The SBA Paycheck Protection Loan Program
U.S. Treasury | Paycheck Protection Program Application Form
U.S. Treasury | Paycheck Protection Program Overview
U.S. Treasury | Paycheck Protection Program (PPP) Information Sheet: Lenders
U.S. Treasury | Paycheck Protection Program (PPP) Information Sheet: Borrowers
U.S. Treasury | Paycheck Protection Loan Program application