On Tuesday, the U.S. Department of Treasury shared new information regarding the Paycheck Protection Program. The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.
The Michigan Chamber has shared that the Paycheck Protection Loans, which provide small businesses forgivable loans to cover payroll and other fixed costs, will be available through private lenders this Friday.
If you are interested in applying for a PPP loan, please review the resources provided by the U.S. Department of Treasury below and visit their webpage for additional information. The US Chamber has created a checklist here.
- The application for borrowers can be found here.
- A top-line overview of the program can be found here.
- If you’re a lender, more information can be found here.
- If you’re a borrower, more information can be found here.
These loans will be issued on a first-come, first-serve basis.