ACE is offering the Paycheck Protection Program (PPP), which includes a $15 billion set-aside for underserved entrepreneurs.
The application and instructions for all small businesses applying for either their first PPP loan or their Second Draw PPP can be found on our portal.
Please review the application guide before applying.
The Paycheck Protection Program (PPP) is a U.S. Small Business Administration (SBA) loan designed to help for small businesses.
Requirements to apply:
Businesses (or nonprofits) in operation as of February 15, 2020
Independent contractors or sole proprietors, or if your business/organization has employees and associated payroll costs
You certify that your business has sustained economic damage due to COVID-19
If you are looking for a second PPP loan, here are the additional criteria you need to qualify:
Your business has fewer than 300 employees
You can show a 25% revenue reduction during any quarter of 2020 relative to the same quarter in 2019
More information will be made available as released by the SBA. Please watch for additional emails & updates on our website at https://aceloans.org/ or email us at PPP@aceloans.org.
