Through the Coronavirus Aid, Relief and Economic Security (CARES) Act, and the Relief Act, the government made billions of dollars available to non-profits and small businesses (500 or fewer employees) affected by the Coronavirus pandemic. Qualifying businesses were eligible for loans to help with payroll costs including benefits, and are expected to apply for loan forgiveness.
May 5, 2021: We are no longer accepting PPP loan applications.
February 24, 2021: President Biden recently announced that for two weeks, they would only accept PPP applications from firms with fewer than 20 employees.
January 12, 2021: Applications are now available for the SBA's second round of Paycheck Protection Program (PPP) loans through the Relief Act. See "Borrower Resources" below to download an application. Applications may be emailed directly to a WSB loan officer. Additional documentation will be required. Please contact a loan officer for more information.
For details on the Act's guidance and how it may affect borrowers of both PPP loans and EIDL grants on our recent blog post: PPP Loans Round 2: Details regarding the Relief Act (part 2).
January 4, 2021: The President recently signed the Relief Act (Consolidated Appropriations Act, 2021) providing a second round of PPP loans to businesses and individuals impacted by COVID 19. It contains additional funding to borrowers of original PPP loans as well. Please refer to our recent blog post PPP Loans Round 2: Details regarding the Relief Act (part 1 of 2) .
August 10, 2020: SBA now accepting applications for full forgiveness.
We will continue to post updates as new information becomes available regarding the PPP.