The Last Day to Apply for a PPP Loan Is Coming Up

If you’re still considering applying for a Paycheck Protection Program (PPP) loan, time is running out. The last day to apply for a PPP loan is June 30, 2020.

If you’re not familiar with the PPP, it’s a loan program designed to help small businesses and self-employed individuals keep their employees on the payroll during the COVID-19 pandemic.

If you think you might be eligible for a PPP loan, the first

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The Paycheck Protection Program

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

What is the Paycheck Protection Program?

The Paycheck Protection Program (PPP) is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

The program is specifically for small businesses with 500 or fewer employees (or the applicable size standard for certain industries). Businesses can apply for a loan through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will also be able to participate in the program on a case-by-case basis.

The PPP will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.

How do I apply for a PPP loan?

The deadline to apply for a Paycheck Protection Program (PPP) loan is June 30, 2020. If you’re self-employed or have a non-traditional workplace arrangement, you may be eligible for a PPP loan.

There are a few different ways to apply for a PPP loan:

-Submit an application through the Small Business Administration (SBA) portal
-Apply through an SBA-approved lender
-Apply through the Economic Injury Disaster Loan (EIDL) portal

The Last Day to Apply

If you’re thinking about applying for a Paycheck Protection Program (PPP) loan, you’ll need to act fast. The deadline to apply for a PPP loan is coming up soon. In this article, we’ll give you all the information you need to know about the PPP loan deadline and what you need to do to apply.

When is the last day to apply for a PPP loan?

The SBA has announced that the last day to apply for a PPP loan is August 8, 2020. This deadline applies to both first and second draw loans. If you’re interested in applying for a PPP loan, you should start the process as soon as possible to ensure that you have enough time to complete it before the deadline.

What happens if I don’t apply by the last day?

If you don’t apply for a PPP loan by the last day, you will not be able to get one. You may be able to get another type of loan, but it will not be a PPP loan.

Other Important Dates

The last day to apply for a PPP loan is Saturday, May 31. Other important dates include:

When is the last day to use my PPP loan?

The last day to use your PPP loan is March 31, 2021. The last day to apply for a PPP loan is March 31, 2021.

When do I have to start making payments on my PPP loan?

The first payment is due 10 months after the end of your covered period.

You will have to start making payments on your PPP loan 10 months after the end of your covered period. The covered period is the time frame in which you can spend the money from your loan. For most people, this is 8 weeks from the date they received their loan.

If you are not able to start making payments on your loan 10 months after your covered period, you may be eligible for a deferment. You can apply for a deferment by contacting your lender.

FAQ

The last day to apply for a PPP loan is March 31, 2021. If you are a small business owner and have not yet applied for a loan, you may be wondering if you should do so. This FAQ will provide you with some information that may help you make your decision.

What if I have already applied for a PPP loan?

If you have already applied for a PPP loan, you do not need to reapply. Your application is still being processed and you will hear from your lender soon.

What if I have already received a PPP loan?

You can apply for a second loan if you:
-Are an eligible self-employed individual, independent contractor, or sole proprietor
-Have used or will use the full amount of your first PPP loan
-Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020

If you received your first PPP loan before June 5, 2020, you have the option to choose an “8-week covered period” or a “24-week covered period.” If you choose the 8-week covered period, your second loan will also be for 8 weeks. If you choose the 24-week covered period, your second loan will be for 24 weeks.

Resources

The Paycheck Protection Program (PPP) has provided more than $525 billion in forgivable loans to small businesses since it launched in early April. The program is set to expire on August 8, 2020, but there is still time to apply for a loan.

Where can I find more information about the Paycheck Protection Program?

The Paycheck Protection Program is a loan program administered by the Small Business Administration. You can find more information about the program and how to apply for a loan on the SBA website:

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program

Where can I find more information about the last day to apply for a PPP loan?

The Paycheck Protection Program (PPP) is a loan designed to help small businesses keep their workforce employed during the COVID-19 pandemic.

The program is administered by the Small Business Administration (SBA), and applications are accepted through SBA-approved lenders.

The deadline to apply for a PPP loan is coming up on August 8, 2020.

For more information about the last day to apply for a PPP loan, please visit the SBA website:

https://www.sba.gov/