As you know, the government recently passed the CARES Act which includes the Paycheck Protection Program (PPP) for small businesses. Portions of these PPP loans are forgivable if used to maintain payroll and avoid employee layoffs. The application process for PPP loans opens this Friday, April 3, 2020.
Today, the Treasury Department released the application for these PPP loans. You can download the application here. We recommend you immediately take the following actions:
- Familiarize yourself with PPP: Read the PPP Overview and Borrower Information Fact Sheet to see if you might qualify.
- Start working on this application immediately: These loans will be in very high demand. It is critical that you apply as soon as the application process opens this Friday, April 3, 2020.
- Await data from ProService: This Thursday we will reach out to provide you with the three fields of information you need to complete your application, shown below.