Updated April 7, 2020
Treasury and the U.S. Small Business Administration (SBA) released FAQs on the Paycheck Protection Program (PPP)
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.
Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
- Click here for a top-line overview of the program
- If you’re a lender, more information can be found here
- If you’re a borrower, more information can be found here
- The application for borrowers can be found here
Visit the Treasury Department for more information.
PPP resources provided by the AICPA
NOTE: On April 2, 2020 the SBA issued new guidance relating to the PPP.
The resources we have provided will be updated as soon as possible. in the meantime, you can find the guidance here.
Emergency funding to offset Coronavirus impacts on your business
Use this co-brandable resource to help your small business clients understand the new Payroll Protection Program (PPP) funding option. Dive into the details here.
PPP payroll calculators for loan application
The PPP provides three scenarios for calculating maximum loan amounts depending on how long the business has been in operation and whether it’s seasonal. You can add all three to your COVID-19 resource library. They’re designed so that your client can complete them following the steps outlined in the calculator.
- PPP Loan Calculator – Non-seasonal & In business 2/15/19 – 6/30/19
This calculator will apply for most businesses that operated in 2019. - PPP Loan Calculator – Nonseasonal & NOT in business 2/15/19 – 6/30/19
This calculator will apply for new businesses. - PPP Loan Calculator – Seasonal business
This calculator will apply for clients that don’t operate year-round.
Sample PPP application
Provide your clients with a sample application so they’re prepared to apply.
SBA loan snapshot
A resource to help your clients get a basic understanding of SBA loan options