UPDATED Paycheck Protection Program (PPP) Contact your bank or credit union to get started. Small Business Administration (SBA) in consultation with the U.S. Department of Treasury announced the PPP Program has re-opened for new borrowers and certain existing PPP Borrowers. ๐๐ฒ๐ ๐ฃ๐ฃ๐ฃ ๐๐ฝ๐ฑ๐ฎ๐๐ฒ๐ ๐ถ๐ป๐ฐ๐น๐๐ฑ๐ฒ: โข PPP borrowers can set their PPP loanโs covered period to be any length between 8 and 24 weeks to best meet their business needs; โข PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures; โข The Programโs eligibility is expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations; โข The PPP provides greater flexibility for seasonal employees; โข Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and โข Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan. |