PPP ROUND 2

Paycheck Protection Program

The SBA has updated the PPP informational pages with information for First Draw and Second Draw and Loan Forgiveness
SBA PAYCHECK PROTECTION PROGRAM

Second Draw PPP Loans

Eligible businesses may apply for a Second Draw PPP loan.
SBA: SECOND DRAW PPP LOANS

SBA and Treasury Announce PPP Re-Opening; Issue New Guidance.

The U.S. Small Business Administration (SBA), in consultation with the  Treasury Department, announced today that the Paycheck Protection  Program (PPP) will re-open the week of January 11 for new borrowers and  certain existing PPP borrowers. To promote access to capital, initially  only community financial institutions will be able to make First Draw  PPP Loans on Monday, January 11 and Second Draw PPP Loans on Wednesday,  January 13.  The PPP will open to all participating lenders shortly  thereafter. Updated PPP guidance outlining Program changes to enhance  its effectiveness and accessibility in  accordance with the Economic Aid to Hard-Hit Small Businesses,  Non-Profits, and Venues Act.

HTTPS://HOME.TREASURY.GOV/NEWS/PRESS-RELEASES/SM1230

PPP PAYROLL REPORTS

PPP Payroll Reports

Several Reports are available within the Payroll System (RPO). Contact you Client Manager for assistance.

PPP Forgiveness Guide

A PPP Forgiveness Guide is available. Ask you client manager for a copy.

PPP FTE Payroll Reports

A PPP FTE Reports for Forgiveness calculations  is available. Ask you client manager for assistance.

PPP INFORMATION

SBA PPP Loan Forgiveness Fact Sheet
SBA issued Fact Sheet on PPP Loan Forgiveness (10/30/2020)
SBA PPP FORGIVENESS FACTSHEET

SBA PPP Loan Forgiveness FAQ
SBA Frequently Asked Questions on PPP Loan Forgiveness (10/13/2020)
SBA PPP FORGIVENESS FAQ

PPP FORGIVENESS INFORMATION

3508s PPP Loan Forgiveness Form 3508S (less than $50,000)
Updated: October 31, 2020
This New Form for Loan Forgiveness is for loans less than $50,000.

5508S FORGIVENSS FORM 3508S

Instructions: 3508s PPP Loan Forgiveness (less than $50,000)
Updated: October 31, 2020
Instructions for Form 3508s for loans less than $50,000.
INSTRUCTIONS FOR FORGIVENSS FORM 3508S

EZ PPP Loan Forgiveness Form 3508EZ
Updated: Wednesday, June 16, 2020
This New Form Loan Forgiveness is a simplified EZ Form for companies that qualify.
EZ FORGIVENSS FORM

INSTRUCTIONS: PPP Loan Forgiveness Application Form 3508EZ
FORM 3508EZ INSTRUCTIONS
FORM-EZ-INSTRUCTIONS.PDF

REVISED PPP Loan FORGIVENESS Application and Instructions
Version: Wednesday June 16, 2020
This Application on Loan Forgiveness present a meaningful change and a new policy for the SBA for FTE Calculations. ( Updated 10-31-20 with new expiration date)
PPP FORGIVENSS APPLICATION & INSTRUCTIONS

PAYCHECK PROTECTION PROGRAM: PPP

Paycheck Protection Program Flexibility Act of 2020
Flexibility Amendment to Paycheck Protection Program was passed on June 5th 2020
PAYCHECK PROTECTION PROGRAM FLEXIBILITY ACT OF 2020

Updated Official Information for PPP
Treasury website with updated information and guidance. Check this site for the most recent information
TREASURY WEBSITE WITH UPDATED INFORMATION

UPDATE from Treasury FAQs: updated guidance from the US Treasury on the PPP
Treasury FAQ’s on PPP Loan process for Borrowers and Lenders
TREASURY FAQS PPP

SBA: Additional Funding
The SBA will resume accepting Paycheck Protection Program applications from participating lenders on Monday, April 27, 2020 at 10:30am EDT.
SBA FUNDING UPDATE

THE SMALL BUSINESS OWNER’S GUIDE TO THE CARES ACT
SBA Approvals from 4/27/2020 through 05/23/2020
SBA FUNDING UPDATE

Paycheck Protection Program Loan Application
Here is a link to download the Application for the Paycheck Protection Program Loan.
DOWNLOAD THE APPLICATION

PPP Fact Sheet for Borrowers
Paycheck Protection Program (PPP) Information Sheet: Borrowers (source: US Treasury)
PPP FACT SHEET

PPP Overview and Summary
The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
PPP QUICK FACTS SUMMARY

FINANCIAL ASSISTANCE FOR COMPANIES IMPACTED BY COVID19

SBA Guide
Small Business Guidance & Loan Resources
Overview of Loan Programs Available
SBA GUIDE

California SBDC Guide
A guide from the California SBDC on resource for businesses impacted by COVID19
CALIFORNIASBDC.ORG

An overview of Small Business Loans under the Cares Act
Understanding the Cares Act Impact
HTTPS://WWW.NORCALSBDC.ORG

California Go-Biz Covid19
The Governor’s Office of Business and Economic Development (GO-Biz )
BUSINESS.CA.GOV/CORONAVIRUS-2019

Cares Act Guide
The US Senate Committee in Small Business & Entrepreneurship provided The Small Business Owner’s Guide to the CARES Act
THE SMALL BUSINESS OWNER’S GUIDE TO THE CARES ACT

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