Paycheck Protection Loan Program

On December 27, 2020, SBA received reauthorization under the Economic Aid Act to resume guaranteeing PPP loans through March 31, 2021. This act amended the PPP to expand the categories of eligible loan applicants and eligible uses of loan proceeds, and also to streamline forgiveness for loans of $150,000 and under. In addition, the act created a new program under Section 7(a)(37) of the Small Business Act – the “Paycheck Protection Program Second Draw Loans” (Second Draw Program). The forms for which SBA seeks approval are for the Second Draw Program.

The latest form for Paycheck Protection Loan Program expires 2021-07-31 and can be found here.