Yesterday the U.S. Small Business Administration (“SBA”) updated its website to include a page providing a link to a sample Paycheck Protection Program Application form and other information related to the Paycheck Protection Program (“PPP”) authorized under the CARES Act. The page can be found here, and includes an embedded link that will allow visitors to download the sample application form, with instructions, as a pdf.
Additionally, the Treasury Department posted a summary of the PPP, information sheets for lenders and borrowers, and the sample application form here.
According to SBA, if you are considering applying for a PPP loan and wish to begin preparing your application, “you can download a sample form to see the information that will be requested from you.”
As we have mentioned previously, PPP loans will be made by existing SBA 7(a) lenders, other participating federally insured depository institutions, federally insured credit unions and Farm Credit System institutions, and other regulated lenders once they are approved and enrolled in the program. PPP loan applications will be submitted through these participating lenders.
According to SBA, participating lenders “may begin processing loan applications as” soon as April 3, 2020.
If you have any questions regarding the PPP or the sample application, please contact us.