You can still apply for PPP but only until June 30, 2020. If you are not sure if the program is right for you, contact us at
Here are the recent changes to PPP. These modifications will implement the following important changes:
  1. Extend the covered period for loan forgiveness from eight weeks after the date of loan disbursement to 24 weeks after the date of loan disbursement, providing substantially greater flexibility for borrowers to qualify for loan forgiveness.  Borrowers who have already received PPP loans retain the option to use an eight-week covered period.
  2. Lower the requirements that 75 percent of a borrower’s loan proceeds must be used for payroll costs and that 75 percent of the loan forgiveness amount must have been spent on payroll costs during the 24-week loan forgiveness covered period to 60 percent for each of these requirements. If a borrower uses less than 60 percent of the loan amount for payroll costs during the forgiveness covered period, the borrower will continue to be eligible for partial loan forgiveness, subject to at least 60 percent of the loan forgiveness amount having been used for payroll costs.
  3.  Provide a safe harbor from reductions in loan forgiveness based on reductions in full-time equivalent employees for borrowers that are unable to return to the same level of business activity the business was operating at before February 15, 2020, due to compliance with requirements or guidance issued between March 1, 2020 and December 31, 2020 by the Secretary of Health and Human Services, the Director of the Centers for Disease Control and Prevention, or the Occupational Safety and Health Administration, related to worker or customer safety requirements related to COVID–19.
  4. Provide a safe harbor from reductions in loan forgiveness based on reductions in full-time equivalent employees, to provide protections for borrowers that are both unable to rehire individuals who were employees of the borrower on February 15, 2020, and unable to hire similarly qualified employees for unfilled positions by December 31, 2020.
  5. Increase to five years the maturity of PPP loans that are approved by SBA (based on the date SBA assigns a loan number) on or after June 5, 2020.
  6. Extend the deferral period for borrower payments of principal, interest, and fees on PPP loans to the date that SBA remits the borrower’s loan forgiveness amount to the lender (or, if the borrower does not apply for loan forgiveness, 10 months after the end of the borrower’s loan forgiveness covered period).
  7.  In addition, the new rules will confirm that June 30, 2020, remains the last date on which a PPP loan application can be approved.

If you haven’t applied for PPP, there’s still time but you need to act fast. This opportunity will end soon!

If you already applied and received confirmation from your lender, do not reapply without contacting your lender first. Duplicate applications may cause delay or result in no funding.
If you haven’t received a confirmation, contact your lender for a status and let them know that you may want to apply elsewhere.
Money for the Payroll Protection Program will be reallocated first with the Economic Injury Disaster Loan (EIDL) from the SBA that may be available at a later date. We will keep you posted.
The SBA notes that applicants who have already submitted their applications and have received a confirmation number that begins with a 3 will continue to be processed on a first-come, first-served basis.
New Information! If your confirmation number begins with a 2, then your application will not be processed due to a problem with the SBA portal. Please reapply through the portal. Click here to reapply for EIDL.
Want to check on the status of your EIDL with SBA? Email or call 1-800-659-2955 for the SBA customer service line. Be sure to provide your confirmation number that you should have received when you submitted your application.

Please do not pay any individual or organization to help you apply for Covid-19 assistance. The SBDC provided no-cost assistance for this very service. Please contact us for help at
Self-Employed with No Employees? You Can Still Get a PPP Loan.