Solving Problems with your Payroll Protection Program Loan Application. Source free money to help your business survive. Many small businesses have their Payroll Protection Program Loan (PPP Loans) applications already approved by their bank and the Small Business Association (SBA). However, there are just as many small businesses that are confused, frustrated, and stuck! Here are some ideas to help with the Payroll Protection Program Loan (PPP Loans): Background As part of the coronavirus stimulus package,
Business Provisions – Paycheck Protection Program and Forgivable Loans The Paycheck Protection Program is a loan program that allows lenders to issue Small Business Administration (SBA) 7(a) small business loans up to a maximum of $10 million or 2.5 times the average monthly payroll costs over the previous year to businesses that have fewer than 500 employees. These “businesses” include sole proprietorships and food service business that employ fewer than 500 people per physical location.