Paycheck Protection
Program (PPP)

Congress has approved an additional $310 billion in funding for the Paycheck Protection Program. Additional funding will be available soon.

If your average monthly payroll is over $4,000*, we have a partner to administer Paycheck Protection Program loans for your business. Applications are reviewed as they are received. Don’t delay; apply now.


(*If your average monthly payroll is less than $4,000, we are working hard to find a partner for you. We will follow up once we’ve identified the right partner for your business.)

About the Paycheck Protection Program

The program is a $349 billion SBA-administered loan and loan forgiveness program outlined in the CARES Act.

On 4/23/20, the Congress approved an additional $310 billion in funding for the program. The program provides federally-guaranteed loans up to a maximum amount of $10 million to eligible businesses. The loans can be used to cover payroll, group health care benefits, employee salaries, rent, and utilities.

Get Prepared for the Program

If your business’s average monthly payroll is over $4,000, submit your application now. Your application will be reviewed by our trusted PPP loan partner.


IMPORTANT: You will need the documents listed below to complete your application. We recommend gathering them before you apply.


    • Drivers license or real ID
    • Business TIN (EIN or SSN)
    • 2019 tax returns (IRS Form 940 – send in 2018 if 2019 has been not filed)
    • 2019 IRS Quarterly 940, 941 or 944 payroll tax reports for a twelve month period (ending on your most recent payroll date)
      • Please note that if you are an independent contractor, you will need to provide a 1099-MISC as proof of payroll
    • Detailed payroll information by employee
    • Documentation showing total of all health insurance premiums paid by the company owner(s) under a group health plan.
    • Document the sum of all retirement plan funding that was paid by the company owner(s) (do not include funding that came from employees out of their paycheck deferrals)

Frequently Asked Questions

We’ve compiled a list of questions about the program. The answers are based on information from the SBA as of 4/24/20.* We’ll update the FAQ as we receive new details about the program. 

To be eligible, your business must meet the following criteria:


  • The Business must be operational as of February 15, 2020 and had employees it paid salaries and payroll taxes, or a paid independent contractor.
  • Sole-proprietors, independent contractors, and other self-employed individuals are eligible for loans.
  • Businesses with no more than 500 employees are eligible small businesses, or the applicable size standard for the industry as provided by SBA, if higher.
  • 501(c)(3) nonprofits, a 501(c)(19) veteran’s organization, or Tribal business concerns of no more than 500 employees are also eligible.
  • Businesses with more than one physical location qualify so long as the total combined employees is below 500 employees (unless the businesses operated under NAICS code beginning with 72). Or, the business meets the SBA’s size standard based on NAICS code.
  • Affiliation Rules: The program waives affiliation rules for businesses in the hospitality and restaurant industries, franchises that are approved on the SBA’s Franchise Directory, and small businesses that receive financing through the Small Business Investment Company (SBIC) program. The SBA’s current affiliation rules applies to eligible nonprofits.

The maximum loan amount permitted for an eligible business is 2.5x the average total monthly payroll cost incurred in the one-year period before the loan is made, not to exceed $10,000,000.

Please visit our COVID-19 Resource Center for the most up-to-date programs and services for small businesses impacted by the crisis.

You can use funds from the loan for:
  • Payroll costs, including benefits
  • Interest on mortgage obligations, incurred before February 15, 2020
  • Rent, under lease agreements in force before February 15, 2020
  • Utilities, for which service began before February 15, 2020.

Payroll costs consist of compensation to employees (whose principal place of residence is the United States) in the form of salary, wages, commissions, or similar compensation; cash tips or the equivalent (based on employer records of past tips or, in the absence of such records, a reasonable, good-faith employer estimate of such tips); payment for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payment for the provision of employee benefits consisting of group health care coverage, including insurance premiums, and retirement; payment of state and local taxes assessed on compensation of employees; and for an independent contractor or sole proprietor, wage, commissions, income, or net earnings from self-employment or similar compensation.


  • Salary, wages, commissions, or tips (capped at $100,000 on an annualized basis for each employee)
  • Employee benefits including costs for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payments required for the provisions of group health care benefits including insurance premiums; and payment of any retirement benefit
  • State and local taxes assessed on compensation
  • For a sole proprietor or independent contractor: wages, commissions, income, or net earnings from self-employment, capped at $100,000 on an annualized basis for each employee.

The interest rate is a 1% fixed rate with a maturity of 2 years.

You will not have to make any payments for six months following the date of disbursement of the loan. However, interest will continue to accrue on PPP loans during this six-month deferment.

No, there is no personal guarantee required.

100% of your loan will be forgiven if you use the funds for payroll costs, mortgage interest, rent, and utilities payments over the 8 weeks after getting the loan.


However, if you do not maintain your payroll and staff you will owe money. Here are details about loan forgiveness reductions:


  • Your loan forgiveness will be reduced if you decrease your full-time employee headcount.
  • Your loan forgiveness will also be reduced if you decrease salaries and wages by more than 25% for any employee that made less than $100,000 annualized in 2019.
  • You have until June 30, 2020 to restore your full-time employment and salary levels for any changes made between February 15, 2020 and April 26, 2020.

*Details are still being updated by the SBA and are subject to change.

Moving Forward Together


We’re here for your business during these difficult times. If you are interested in a PPP loan, submit your application to the queue now. We’ll reach out to you if more funding becomes available.