Application Process for Paycheck Protection Program Opens Friday – Here’s What You Need to Know
Starting Friday, April 3, small businesses and sole proprietorships can apply for the Small Business Administration’s Paycheck Protection Program (PPP) – an initiative that was included in the $2 trillion economic relief bill signed by President Trump last week, which authorizes nearly $350 billion in forgivable loans to businesses to pay up to eight weeks of payroll costs, including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities. Click here to learn more.
More information about the program and application process will be available on Friday at the following link: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources#section-header-0
To help stakeholders navigate the PPP application process and the broader economic relief bill, NMMA is hosting a webinar on Friday from 12:00pm-1:00pm ET. Register now: https://register.gotowebinar.com/register/6770694053714654475
Additionally, NMMA has compiled several resources regarding the COVID-19 crisis and subsequent government responses, which are available at https://www.nmma.org/coronavirus. If you have questions, please email NMMA’s COVID-19 task force at [email protected].