Small Business

Updated March 10, 2021

Paycheck Protection Program

The Small Business Administration (SBA) is offering Paycheck Protection Program (PPP) loans until March 31, 2021. Borrowers may be eligible for loan forgiveness. The Biden administration announced changes to open PPP to more underserved neighborhoods.

The stimulus package signed December 27, 2020 included $284 billion for first and second forgivable Paycheck Protection Program loans. It expanded PPP eligibility for nonprofit organizations and included program modifications to serve small businesses, nonprofit organizations and independent restaurants.