Frequently asked questions
Businesses who wish to take advantage of the Paycheck Protection Program (PPP) can do so at any lending institution that has been approved to participate in the program. Thousands of banks have been approved to participate in the program created by the Small Business Association. You do not need to visit a government institution to apply for these loans.
Your business is eligible to apply for the loan if it employs 500 people or fewer, or if your business is in an industry that has an employee-based size standard through the SBA Opens a new window. If you are own a restaurant, hotel, or any other business that falls under the North American Industry Classification System code 72, and each of your locations employes less than 500 people, you will also quallify.
Yes, sole proprietors, independent contractors and self employed individuals are eligible to receive relief under the Paycheck Protection Program.
A business can apply for the Paycheck Protection Program until the deadline, which is currently June 30th, 2020
