Paycheck Protection Program Loan Applications are Available Now.
4/1/2020
The Treasury Department today posted applications for the Paycheck Protection Plan loans and the Small Business Administration announced that banks would start accepting applications Friday.
The government's response is rapid, and sometimes changing. Links to forms that worked a couple hours ago are now broken and have been replaced on the Treasury's website with new links! RINA's professionals are employing industry-leading accounting resources, and we will share -- and update -- you as information is announced.
RINA suggests that businesses interested in the Paycheck Protection Program:
- Download an application form NOW and start collecting the information requested on the form.
Even if the exact format changes between now and Friday, the basic information needed to apply for a loan is likely to remain constant. So start gathering the data and filling out a form. We recommend downloading one of the following forms, with the best choice at the top!- The Form on the Treasury website (current as of 4 pm Tuesday)
- Treasury Department COVID-19 page that contains additional information and also will link to any newer form, if one is published.
Go here if the form link in this alert has been superseded and no longer works.
- Contact a local SBA approved lender NOW to make an appointment for Friday (April 3) when the lenders will start accepting applications.
Any bank who already offers SBA loans should be up and running with the PPP by Friday.- Download a list of lenders from the SBA
Or, if that link has been replaced - Get an updated list of lenders from the SBA website
- Download a list of lenders from the SBA
Other Internet Resources
RINA has articles about the PPP, the Small Business Administration Economic Injury Disaster Loan (EIDL), the Families First Coronavirus Response Act on its website. Check them out and our other COVID-19 articles.
- Paycheck Protection Program
- How Do I Apply for a Small Business Administration Economic Injury Disaster Loan (EIDL)?
- Payroll Credits and Payroll-Related Assistance
- List of COVID-19 resources
Our team is focused on the quickly developing programs and resources.
We are here to help guide you through these difficult times and to keep you updated on the financial and tax effects of this crisis.
Please, reach out to us if you have any questions or if we can help in anyway. We are here to be of service.