The public pulled out the PPP pitchforks when news broke that big, well-known companies like Shake Shack, Ruth’s Chris Steak House, and the Los Angeles Lakers had received Small Business Association (SBA) coronavirus loans under the Paycheck Protection Program.

How many PPP loans can a business receive?

There is a limit of one PPP loan per tax ID. If your second business has a separate unique EIN, it’s eligible to apply for the PPP as well.

Do you have to pay back the PPP loan?

Yes. PPP loans (the full principal amount and any accrued interest) may be fully forgiven, meaning they do not have to be repaid. If you do not apply for forgiveness, you will have to repay the loan.

How much money can a company get with a PPP loan?

Companies can receive up to $10 million in forgivable PPP loans, and at least 4,840 companies across the US have received more than $5m . What type of businesses qualify for the PPP?

Where can I Find my PPP loan application?

Updated June 5, 2021 Search for PPP loan applications by organization, lender, zip code and business type. This data comes from the Small Business Administration, and includes lender-approved loans under the Paycheck Protection Program as of June 1, 2021.

How to check who’s received EIDL grants or loans or PPP loans?

If you’re looking to check who’s received EIDL grants, EIDL loans, or PPP loans, the SBA has made recipient data publicly available. This has become important of late as the SBA has developed protocols for individuals or businesses who may have had their information used for an SBA grant or loan without their permission.

Can a independent contractor apply for a PPP loan?

Independent contractors have the ability to apply for a PPP loan on their own so they do not count for purposes of the PPP loan application. Use our CARES Act SBA loan calculator to see how much money your business may qualify to get.