PPP Application Deadline & Resources

If you haven’t submitted an application for Paycheck Protection Program (PPP) funding, the deadline to do so is Tuesday, June 30. The SBA reported that as of June 27, there is still over $134 billion of PPP funding remaining. As a reminder, you can only apply for a PPP loan once.

**This article was originally published on June 23, 2020. The deadline to apply for PPP funding was extended to August 8 (previously June 30) under new legislation signed into law by the President on July 4, 2020.**

If you haven’t submitted an application yet, below are a few helpful links to get started on the process ASAP:

• Overview of the steps to take to apply for the loan
• Confirm whether you need the loan
• Confirm whether you’re eligible for the loan under the SBA affiliation rules
• Review the tax implications of taking out a PPP loan
• Understand what you can use loan funds for
• Check out how PPP forgiveness works and what the forgiveness application process looks like
• Use the SBA Forms & Tools:
  • Borrower Application
  • Search Tool for Eligible Lenders
• Keep up with LP’s Daily 3 articles to stay in the know