Paycheck Protection Program (PPP) Loans Small Business Resource Hub

Learn about the SBA's Paycheck Protection Program loan, loan forgiveness, qualifications, applications and more. Our PPP resource hub is designed to help you navigate difficult times with confidence.

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PPP Loan Eligibility

Whether you are applying for your first or second PPP loan, there are certain criteria you need to meet in order to be eligible to apply. Note: the eligiblity criteria has changed from the first round in 2020.

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Applying for the PPP

Check out our step-by-step guides for how to submit your first draw and second draw PPP loans applications, making sure you will be able to meet the criteria to have your loan later forgiven.

PPP Loan Forgiveness

In order to have your loan forgiven, you must follow the rules of the Paycheck Protection Program. Get a clear picture of what is required, and how to sumbit your forgiveness application to your lender.

Small Business Relief

Get in the know on what other relief funding is available to you as a small business owner. Explore our resources to decide which source of relief is right for you and how you can apply.

Should I Apply for the Paycheck Protection Program?

The Paycheck Protection Program (PPP) loan gives small business owners easier access to funding than a traditional loan—but only until the application deadline of March 31st. The funds can be used to cover up to 24 weeks worth of payroll costs, rent, utilities, mortgage interest, supplier and operational costs (like Bench), property damage and worker protection expenditures. When your PPP loan is used to cover these expenses, it can be fully forgiven, meaning free money for your business.

  • If you have questions about whether you qualify, Bench has a team of specialists who can help you determine if getting a PPP loan is the right option for your business. With our support, we can help you make the most of this financial opportunity to propel your business into 2021.
  • Worried about getting your loan forgiven? With solid books to easily track how you spend your loan, forgiveness is easier and less stressful than you think. Our team can support you through the forgiveness process and provide all the information you need to maximize your forgiveness potential.
  • If you experienced difficulties getting a PPP loan from your lender in 2020 come talk to us. Together with our preferred lending partner, we can walk you through the loan application and forgiveness processes. With Bench on your team, accessing PPP funds in 2021 is easier than ever.

Biden Administration Makes Changes to PPP Applications and Eligibility

Watch this short video to learn about the changes to the Paycheck Protection Program announced by President Biden on February 22, 2021. On Wednesday February 24th, a 14-day exclusive PPP loan application period began for small businesses with fewer than 20 employees. The remaining major updates discussed in the video are expected to be implemented the first week of March. More to follow as the SBA releases more information.

How Bench Can Help

With Bench, you get a dedicated bookkeeper and powerful reporting software for a crystal clear view of your financial health. All of our services are eligible expenses for PPP forgiveness, and we'll even provide support in applying for the PPP (and getting your loan forgiven). Whatever happens next, we're right there with you.

Our team of experts will:

  • Make sure you have the correct numbers to apply for the PPP loan and receive the right amount
  • Track your loan on your profit & loss and balance sheet, and provide the supporting documents needed for your forgiveness application
  • Provide helpful webinars, resources, and answer any of your question surrounding PPP forgiveness so you have advocates on your side throughout the process
  • Present a year end financial package at tax time with everything you need to file your taxes

Helping over 10,000 small businesses across America

‘‘In the beginning of the pandemic, Bench was the only place where I could really get trustworthy information about PPP loans. I am very happy with EVERYTHING that is Bench!
Brette
‘‘[On getting help after being left waiting by other banks] After two months of not getting anything, I was approved within two hours. Bench arrived on the scene faster than most emergency services.
Dave
‘‘They've been incredibly helpful during the pandemic navigating the PPP loan questions I've had and the personal touch to their customer service experience far exceeds any other.
Tessa

Have a question about the PPP? Join our Facebook group and get your questions answered.

PPP & Financial Relief Hub - Powered by Bench




PPP loan forgiveness starts with good books

With up-to-date bookkeeping and organized financials, it’s easy to prove that your expenses are eligible for PPP loan forgiveness.