After months of waiting for much-needed relief, small businesses are finally getting renewed support from the federal government. A new round of stimulus relief will reopen and strengthen the Paycheck Protection Program (PPP) for first-time and second-time borrowers. The PPP provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
SBA is currently offering:
- First Draw PPP Loans for first-time program participants
- Second Draw PPP Loans beginning January 13, 2021, for certain businesses who have previously received a PPP loan
To promote access for smaller lenders and their customers, SBA is currently only accepting loan applications from participating community financial institutions (CFIs). Lender Match can help you find a participating CFI. SBA also offers additional Coronavirus relief.
Since many lenders have their own application, which include the updated questions required by the SBA, be ready to submit by utilizing the application forms below to take to an eligible lender.
- PPP 1st Draw Borrower Application
- PPP 2nd Draw Borrower Application
- PPP Loan Eligibility and Terms (Scroll down to Federal Financing Options)
Pikes Peak Small Business Development Center: Sign up for free expert consulting to assist you with grant and loan applications HERE.
Early Learning Ventures Webinar: To view a webinar featuring Hunter Railey from the Small Business Majority to learn more about what’s in the new relief package and what this could mean for your child care business, click HERE.
