Paycheck Protection Forgiveness
The Paycheck Protection Program has been renewed by Congress, with substantial changes. Please find below some brief information regarding First Draw and Second Draw loans along with the required applications.
When you have your documentation prepared please upload it below, be sure to fill in all fields, including company name for the company applying for forgiveness.
The SBA’s Economic Injury Disaster Loan (EIDL) Program provides small businesses with working capital loans of up to $2 million at a favorable interest rate and terms up to 30 years. The SBA administers this program directly. If you are interested in this opportunity, you can apply online with SBA. Or, contact your lender to see if this program may fit into your financial plan. Please note, SBA recently clarified that agriculture enterprises are eligible for EIDL.
Small businesses can obtain both an EIDL loan and a PPP loan, but the EIDL funds must be used for a different purpose than the PPP funds.
To apply for these programs, please see the SBA Website. Please note, this website changes often and currently needs to be updated due to Congress providing additional funds for these programs.