Financial Resources: Paycheck Protection Program


4/23/20 UPDATE: Congress is working swiftly to pass additional funding to support the PPP. If you have already been denied funds, reach out to your lender to make sure they are keeping you in a “queue” for the next round of funding.

The Payroll Protection Program (PPP) is a loan from the US Small Business Administration (SBA) specifically designed to help businesses keep their workforce employed during the Coronavirus (COVID-19) Crisis. Read more at nextSteps about how the PPP works, and how to apply. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) signed into law on March 27, 2020 made this loan possible. As of April 20, 2020, the $349 billion allocated to this effort was depleted, making another round of funding necessary.

Read the full PPP story at nextSteps, and check back often for updates as this is a rapidly-changing story.