The SBA has opened the Paycheck Protection Program to all participating lenders. Eligible small businesses can apply for a First or Second Draw PPP loan.
A First Draw PPP loan is for eligible borrowers who did not receive a PPP loan before the program closed in August 2020. A Second Draw PPP loan is for certain eligible borrowers that previously received a PPP loan, generally have 300 employees or less, and have suffered a 25% reduction in gross receipts. The maximum amount of a Second Draw PPP loan is $2 million.
Learn more about each, including loan details, how to apply, and who may qualify:
How do I find eligible Paycheck Protection Program lenders?
Use this SBA map tool to find a lender near you.
The Paycheck Protection Program remains open for First and Second Draw PPP loans until March 31, 2021, as set forth in the Economic Aid Act, or until Congressionally-appropriated funding is exhausted
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