Act Fast – Now Is the Best Time to Apply for a PPP Loan
For a two-week period, the Small Business Administration and Paycheck Protection Program lenders will process loan applications exclusively from nonprofit and for-profit employers with fewer than 20 employees.
Starting Wednesday, February 24 and running through Tuesday, March 9, the exclusive small-employer PPP processing window is designed to provide more equitable relief by “targeting the PPP to the smallest businesses and those that have been left behind in previous relief efforts” to ensure that lenders give smaller employers the attention they need to work their way through the application process.
If you think your nonprofit may be eligible for an initial PPP loan or a second draw loan Congress authorized at the end of 2020, now is the best time to contact a lender and find out how much relief may be available. Learn more at SBA.gov.
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