PPP Loan Portal Re-Opens
The U.S. Small Business Administration (SBA) in consultation with the U.S. Treasury Department, opened the Paycheck Protection Program (PPP) loan portal on Monday, January 11, 2021 9:00AM ET. The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. When the PPP loan portal system opens, it will initially accept First Draw PPP loan applications from participating CFIs, which include Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries.
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.
If you wish to begin preparing your application, you can download the following PPP borrower application forms to see the information that will be requested from you when you apply with a lender:
Paycheck Protection Program First Draw Borrower Application Form (revised 01-08-21)