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How do you fill out a paycheck protection program?
What do I need to apply? You will need to complete the Paycheck Protection Program loan application and submit the application with the required documentation to an approved lender that is available to process your application by June 30, 2020. Click HERE for the application.
How do I apply for the paycheck protection program?
You can apply for the Paycheck Protection Program (PPP) at any lending institution that is approved to participate in the program through the existing U.S. Small Business Administration (SBA) 7(a) lending program and additional lenders approved by the Department of Treasury.
Who qualifies for the paycheck protection program?
Who Qualifies for the Paycheck Protection Program? The program is designed for employers with 500 employees or less this includes sole proprietorship, independent contractors and the self-employed, private non-profits and 501(c)(19) veterans organizations.
How does paycheck protection program work?
The Paycheck Protection Program is a loan program that originated from the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This is a nearly $350-billion program intended to provide American small businesses with eight weeks of cash-flow assistance through 100 percent federally guaranteed loans.
When can we apply for paycheck protection program?
The deadline to apply for a Paycheck Protection Program Loan is June 30, 2020.
How does payroll protection plan work?
What is the Paycheck Protection Program? The Paycheck Protection Program is a Small Business Association (SBA) loan program specifically designed to help small businesses continue to make payroll at their staff's current pay rate, as well as cover key expenses that keep the lights on (think rent and utilities).
Do you have to pay back paycheck protection program?
You must use at least 75% of PPP funds to cover qualifying payroll costs and the remainder may be used for qualifying non-payroll costs over the eight-week period following the date of the loan. If you do not use PPP for these purposes, your PPP loan will not be forgiven, and you will be required to pay back the loan.
Who qualifies for payroll protection?
Who Qualifies for the Paycheck Protection Program? The program is designed for employers with 500 employees or less this includes sole proprietorship, independent contractors and the self-employed, private non-profits and 501(c)(19) veterans organizations.
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