We are here to help.
Small businesses are the cornerstones of our communities. Their success means success for us all. The Small Business Paycheck Protection Program is designed to provide funds to pay up to 8 weeks of payroll costs including benefits. These funds can also be used to pay interest on mortgages, rent, or utility costs.
The Paycheck Protection Program is part of the CARES Act Stimulus Package, and is a federal loan program aimed at helping businesses impacted by COVID-19. Up to $350 billion dollars have been made available to assist small businesses by offering 7(a) loans to borrowers, with an option to have a portion of the loan forgiven.
This Program is available for:
- Businesses with 500 or fewer employees
- Self-employed individuals and independent contractors
- Non-profit 501(c)3 organizations
- 501(c)19 veterans organizations and tribal businesses