Yesterday, the NGLCC announced that the Small Business Administration (SBA) will offer Paycheck Protection Program (PPP) loans to businesses with 20 or less employees and sole proprietors from Wednesday, February 24 through Wednesday, March 10, 2021.  The PPP provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Borrowers may be eligible for PPP loan forgiveness.  The SBA has also announced additional program changes to make access to PPP loans more equitable.

Steps to follow, via the Small Business Administration:

1. Find a lender:

a. Get matched with a lender

b. Search for lenders in your area

2. Identify a loan:

a. First Draw PPP Loans: If you have not received a PPP loan before, First Draw PPP Loans are available to you.

b. Second Draw PPP Loans: If you have previously received a PPP loan, certain businesses are eligible for a Second Draw PPP Loan.

Reminder: the SBA also offers additional Coronavirus relief.

Note: SBA relief loans/grants are contingent upon requirements being met that are unique to each business/industry.  NGLCC is an information resource sharing partner of the SBA, but neither the NGLCC nor 3RBA provide direct support with applications.