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Paycheck Protection Program Frequently Asked Questions

What is the PPP?

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How is this loan unique?

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How do I apply for a PPP loan?

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What documentation does a business need to provide for the application?

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Am I eligible for a loan?

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What is your maximum loan amount?

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Will I need to pledge collateral or a personal guarantee to qualify?

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What are the approved uses of loan proceeds?

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What is my interest rate?

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What is the deadline to apply?

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What if the allocated funds run out prior to my application/funding?

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If I take this loan now, can I get additional SBA funds in the future?

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How does forgiveness work?

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Is SBA forgiveness of the loan automatic?

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If my loan is not forgiven, how much is my monthly payment?

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Can I apply for more than one PPP loan?

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Can I apply for both an Economic Injury Disaster Loan (EIDL) and a loan through the Paycheck Protection Program?

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