The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities*.

President Trump signed the $484 Billion Coronavirus Relief package on April 24th, making $310 billion in funding available for the Paycheck Protection Program (PPP), $60 billion of which is reserved for community banks and small lenders; $75 billion for hospitals; $25 billion to support testing efforts; and $60 billion for emergency disaster loans and grants.

The Paycheck Protection Program will be available through June 30, 2020.

It’s better if you have a relationship with your local bank or call to open an account with the banks below.
Even with a relationship there is no guarantee that you will be approved.
*Sorry, Gourmet Ice Cream Not Included