SBA Payroll Protection Program
Local Banks across the county have begun processing the SBA Payroll Protection Program (PPP) forgivable loan program. Businesses or nonprofits are eligible for a 1% loan up to 2.5 times their average monthly payroll, the amount expended on payroll, and other eligible costs like rent, mortgage payments, and utilities for the time period between 2/15 and 4/26 would be forgiven assuming the business maintains it employees and payroll.
Paycheck Protection Program
The SBA application has been updated and is now available. We have attached a copy of application (Expiration date 09/30/2020).
Please read instruction thoroughly when completing the SBA application.
Documentation needed to accompany your PPP application to the bank:
- Payroll processing records for 2019 or
- Payroll tax filings for 2019 or
- 1099 Miscellaneous for 2019 or
- Income & Expenses for 2019, if sole proprietor
Please return the completed packet including all supporting documentation. Any incomplete packet or missing documents will cause you to lose your place in line.
For more information visit www.sba.gov
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