General • Published 3/31/2020 Paycheck Protection Program Forms and Fact Sheets

Last updated on 3/31/2020

Application forms and fact sheets for the Paycheck Protection Program (PPP) under the CARES Act have been made available  from the Treasury Department.

View the Application

Starting April 3, 2020, small businesses and sole proprietorships can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders. Starting April 10, 2020, independent contractors and self-employed individuals can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders. Other regulated lenders will be available to make these loans as soon as they are approved and enrolled in the program. Due to the likely high subscription to this program, it is anticipated that not more than 25 percent of the forgiven amount may be used for non-payroll costs.

View the Borrower Information Fact Sheet

The fact sheet encourages small businesses to apply for a PPP loan as quickly as possible, as there is a funding cap on the program, and lenders will need time to process loan paperwork. While there is a trade-off between relief benefits under the PPP and certain business tax provisions of the CARES Act (specifically the Employee Retention Credit and payroll tax deferral), you may want to submit an application as soon as possible, and subsequently optimize benefits under the PPP and business tax provisions of the CARES Act before executing loan documents. Please note that this is a fluid and quickly-moving situation, and P&N will continue to monitor and update this page as new information becomes available.

Related Article: The New Round of PPP Loan Programs