Beginning January 19, 2021, the U.S. Small Business Administration (SBA) is accepting applications for the Paycheck Protection Program (PPP) loans from all lenders. The PPP supplies loans to help small business keep their workforce employed during the Coronavirus pandemic. To see if you are eligible for this loan, TVF recommends visiting the SBA website for guidelines, as well as consulting legal counsel to consider how this might affect your business.
According to the SBA’s data, as of August 8, 2020, the Paycheck Protection Program has approved over five million loans, averaging over $100,000. Take time to consider how the PPP loan may help your business.