Paycheck Protection Program Application
As of March 31, 2020, the Small Business Administration (“SBA”) has provided a downloadable application form for small businesses to enroll in the Paycheck Protection Program (the “PPP”), which was created as part of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). Small businesses are encouraged to review the application form and to prepare required information before participating SBA lenders begin processing applications on Friday, April 3, 2020. The application deadline to enroll in the PPP is Tuesday, June 30, 2020. For more information on the PPP, please see our article SBA Loan Programs Under the CARES Act.