Paycheck Protection Program — U.S. Department of the Treasury

Summary

This Treasury page for the Paycheck Protection Program describes the program as giving small businesses resources to maintain their payroll, hire back employees who may have been laid off, and cover applicable overhead. It names small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, plus individuals who are self-employed or independent contractors, as eligible if they also meet program size standards. The page has For Borrowers and For Lenders links and lists program rules, including the Interim Final Rule on Appeals of SBA Loan Review Decisions and the Final Rule on Borrower Appeals of Final SBA Loan Review Decisions. A closing section says the Economic Injury Disaster Loan program is for any small business with fewer than 500 employees, with an advance of up to $10,000.

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U.S. Department of the Treasury

Paycheck Protection Program

The Paycheck Protection Program is providing small businesses with the resources they need to maintain their payroll, hire back employees who may have been laid off, and cover applicable overhead.

Small Business Paycheck Protection Program

The Paycheck Protection Program established by the CARES Act, is implemented by the Small Business Administration with support from the Department of the Treasury. This program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.

The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $659 billion toward job retention and certain other expenses.

Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

For Borrowers

For Lenders

Program Rules

- Frequently Asked Questions (5/9/2024)
- Frequently Asked Questions on Loan Forgiveness (10/13/2020)
- Interim Final Rule 1 (originally posted April 2, 2020)
- Interim Final Rule on Applicable Affiliation Rules (originally posted 4/3/2020)
- Interim Final Rule on Additional Eligibility Criteria and Requirements for Certain Pledges of Loans (originally posted 4/14/2020)
- Interim Final Rule on Requirements for Promissory Notes, Authorizations, Affiliation, and Eligibility (originally posted 4/24/2020)
- Interim Final Rule Additional Criterion for Seasonal Employers (originally posted 4/27/2020)
- Interim Final Rule on Disbursements (originally posted 4/28/2020)
- Interim Final Rule on Corporate Groups and Non-Bank and Non-Insured Depository Institution Lenders (originally posted 4/30/2020)
- Interim Final Rule on Nondiscrimination and Additional Eligibility Criteria (originally posted 5/5/2020)
- Interim Final Rule on Extension of Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan Request (originally posted 5/8/2020)
- Interim Final Rule on Loan Increases (originally posted 5/13/2020)
- Interim Final Rule on Eligibility of Certain Electric Cooperatives (originally posted 5/14/2020)
- Interim Final Rule on Treatment of Entities with Foreign Affiliates (originally posted 5/18/2020)
- Interim Final Rule on Second Extension of Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan and Lender Reporting (originally posted 5/20/2020)
- Interim Final Rule on Loan Forgiveness (originally posted 5/22/2020)
- Interim Final Rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities (originally posted 5/22/2020)
- Interim Final Rule on Eligibility of Certain Telephone Cooperatives (originally posted 6/5/2020)
- Interim Final Rule on Revisions to First Interim Final Rule (originally posted 6/11/2020)
- Interim Final Rule on Additional Revisions to First Interim Final Rule (originally posted 6/12/2020)
- Interim Final Rule on Revisions to the Third and Sixth Interim Final Rules (originally posted 6/17/2020)
- Interim Final Rule on Revisions to Loan Forgiveness Interim Final Rule and SBA Loan Review Procedures Interim Final Rule (originally posted 6/22/2020)
- Interim Final Rule on Additional Eligibility Revisions to First Interim Final Rule (originally posted 6/24/2020)
- Interim Final Rule on Certain Eligible Payroll Costs (originally posted 6/25/2020)
- Interim Final Rule on Appeals of SBA Loan Review Decisions Under the PPP (originally posted 8/11/2020)
- Interim Final Rule on Treatment of Owners and Forgiveness of Certain Nonpayroll Costs (originally posted 8/24/2020)
- Interim Final Rule on Additional Revisions to Loan Forgiveness and Loan Review Procedures Interim Final Rules (originally posted 10/8/2020)
- Interim Final Rule on Paycheck Protection Program as Amended by Economic Aid Act (originally posted 1/6/2021)
- Interim Final Rule on Second Draw Loans (originally posted 1/6/2021)
- Interim Final Rule on Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act (originally posted 1/19/2021)
- Interim Final Rule on Loan Amount Calculation and Eligibility (originally posted 3/3/2021)
- Interim Final Rule on Paycheck Protection Program as Amended by American Rescue Plan Act (originally posted 3/18/21)
- Interim Final Rule on COVID Revenue Reduction Score, Direct Borrower Forgiveness Process, and Appeals Deferment (originally posted 7/28/2021)
- Final Rule on Borrower Appeals of Final SBA Loan Review Decisions (originally posted 9/16/2021)
- Interim Final Rule on Extension of Lender Records Retention Requirement (originally posted 8/23/2024)

Previous Versions of Applications

Economic Injury Disaster Loans

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid. If a business received an Economic Injury Disaster Loan advance in addition to a Paycheck Protection Program (PPP) loan, the amount of the Economic Injury Disaster Loan advance will be deducted from the PPP loan forgiveness amount by SBA.

The SBA’s Economic Injury Disaster Loan provides vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing as a result of the COVID-19 pandemic.

This program is for any small business with fewer than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by COVID-19.

Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries.

The Economic Injury Disaster Loan advance funds will be made available within days of a successful application, and this loan advance will not have to be repaid.

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