Small-business owners who received taxpayer-subsidized Paycheck Protection Program loans of $150,000 or less during the coronavirus pandemic will be able to seek forgiveness directly with the government through an online portal starting Aug.

What does the Paycheck Protection Program do for employees?

The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.

How long can you spend a PPP loan?

How long do I have to spend PPP money? According to the Treasury Department, you must spend PPP funding within eight weeks from the date the funding hit your bank account.

What does the Paycheck Protection Program do for You?

The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Borrowers may be eligible for PPP loan forgiveness.

Who is eligible for Paycheck Protection Program loan forgiveness?

The Paycheck Protection Program (PPP) is a loan designed to provide a direct incentive for small businesses to keep their workers on payroll. Borrowers may be eligible for PPP loan forgiveness.

When does the SBA paycheck protection program end?

The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. SBA is currently offering: Second Draw PPP Loans beginning January 13, 2021 for certain businesses who have previously received a PPP loan.

When does the 24 week paycheck protection period start?

the 24-week (168-day) period (or for loans received before June 5, 2020 at the election of the borrower, the eight- week (56-day) period) that begins on the first day of their first pay period following their PPP loan disbursement