The U.S. Small Business Administration’s Delaware Office will host twice-per-week Zoom sessions outlining the Paycheck Protection Program (PPP) and fielding questions from session participants regarding the program, including its application and loan forgiveness processes.
The Zoom sessions will be held at 3 p.m. EST every Tuesday and Thursday, continuing until further notice. The Zoom sessions are free-of-charge.
ZOOM SESSION DATES: ZOOM SESSION TIME:
Tuesdays and Thursdays, 3 p.m. EST – 4 p.m. EST
Zoom Link: https://udel.zoom.us/s/93082799392
Zoom ID: 93082799392
Phone one-tap: +16468769923 93082799392# OR +13017158592 93082799392#
The PPP was created by the CARES Act and is administered by the U.S. Small Business Administration in consultation with the U.S. Treasury Department. The PPP provides forgivable loans to eligible small businesses to keep American workers on the payroll during the COVID-19 pandemic. PPP first ran from March to August 2020.
The PPP’s second round has opened to all participating PPP lenders to submit First and Second Draw loan applications to SBA. First Draw PPP Loans are for those borrowers who have not received a PPP loan before August 8, 2020, during the first round of the PPP.
Second Draw PPP Loans are for eligible small businesses with 300 employees or less, that previously received a First Draw PPP Loan and will use or have used the full amount only for authorized uses, and that can demonstrate at least a 25 percent reduction in gross receipts between comparable quarters in 2019 and 2020. The maximum amount of a Second Draw PPP loan is $2 million.
Updated PPP Lender forms, guidance, and resources are available at www.sba.gov/ppp and www.treasury.gov/cares.
