Apply for federal relief through the Paycheck Protection Program (PPP)*
What to know before you apply:
If you took a PPP loan previously, you must use the full amount of the loan on or before the expected date your second PPP loan is disbursed.
If you're seeking a loan of $150,000 or more, you'll need to provide documentation (e.g., tax forms, financial statements, bank statements) to prove revenue reduction of 25% or more.
- For loans less than $150,000, you'll just need to provide this information to receive loan forgiveness.
Here's how it works:
|Initial Paycheck Protection Program (PPP) loans are available for up to 2.5 times your average monthly payroll during the year preceding the application. (Businesses assigned to NAICS code 72 can receive loans of up to 3.5 times their average monthly payroll costs.)|
|Second PPP loans are available for companies that have fewer than 300 employees and have seen a 25% reduction in revenues since their first PPP loan.|
|All or part of your loan proceeds may be eligible for loan forgiveness.|
For more information regarding Commercial Loans use one of 2 options! Call: (520) 381-3100 Ext 1228 or email us!
Paycheck Protection Plan (PPP)
Who is Eligible
What is Included in Payroll Costs
Looking for more information?
Refer to the following links and information regarding the CARES Act and the Paycheck Protection Program (PPP).