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.
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.
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.
Update: Paycheck Protection Program Application Closure
May 5th, 2021
Yesterday, the general fund for the Paycheck Protection Program (PPP) unexpectedly ran out.
The SBA has now closed the PPP loan application portal to all new applications.
There is a reserve of funds still available for prospective borrowers applying through community financial institutions (CFIs) only and for applications previously submitted that have not yet been reviewed by the SBA. This means you may receive funding if you have already submitted an application, however, it is not guaranteed. We will provide more information when it becomes available.
Have a question about the PPP? Join our Facebook group and get your questions answered.
PPP & Financial Relief Hub - Powered by Bench
Instructional Video Resources
Our financial relief research team simplify some of the more complicated aspects of the PPP. Apply for a loan with confidence with a video walkthrough on loan amount calculation. Or learn about how the PPP differs for seasonal businesses. Whatever your question, get the information you need delivered with a friendly voice and a smile.
How Bench Can Help with PPP Loan Forgiveness
Bench has a team of specialists who can help you understand how loan forgiveness works and what is required to ensure your forgiveness application is approved.
With Bench, you get a dedicated bookkeeper to complete your monthly books and powerful reporting software for a crystal clear view of your finances. Having solid books allows you to easily track how you spend your loan—making forgiveness easier and less stressful than you think. The best part? All of our services are eligible expenses for PPP forgiveness.
Our team of experts will:
- 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
With our support, we can help you make the most of this financial opportunity to propel your business through 2021.
Helping over 10,000 small businesses across America
Report: Did small businesses get the support they needed in 2020?
The Paycheck Protection Program and EIDL were offered to small businesses as support as COVID forced closures. In our study, we found that a staggering 80% of small businesses did not get the support they needed. Read why and get more of our findings in our study: "How Effective Was the PPP? A Study of Small Businesses."
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. If you are applying for your second PPP loan, the eligiblity criteria has changed from the first round in 2020.
- What is the Paycheck Protection Program? (A Simple Guide)
- The Second Stimulus Package: A Guide for Small Businesses
- Do I Qualify for the PPP Loan?
- Changes to PPP Eligibility and Criminal History
- The Second PPP Loan: What You Need to Know
- Can I Get a PPP Loan if I Opened My Business in 2020?
- How to Calculate a 25% Reduction in Revenue for PPP 2
- Self-Employment, 1099s, and the Paycheck Protection Program
- PPP Loans for Partnerships: What You Need to Know
- PPP for LLCs: How it Works
Applying for PPP
Ready to start your PPP loan application? We've put together step-by-step guides for how to submit your first draw and second draw PPP loans applications. Before you apply, check out the articles below on loan forgiveness, to make sure you will be able to meet the criteria to have your loan later forgiven.
- How to Apply for Your First PPP Loan
- Can I Apply for the PPP Twice?
- How to Apply for Your Second PPP Loan
- How to Request an Increase to a PPP Loan Amount
- How to Calculate Your Paycheck Protection Program Loan Amount
- How to Calculate Gross Income for the PPP
- How to Calculate FTE for the PPP
- Do Owner Draws Count as Salary for the Paycheck Protection Program?
- Documents Required to Apply for the Paycheck Protection Program
- My PPP Loan is the Wrong Amount. What Can I Do?
PPP Loan Forgiveness
In order to have your loan forgiven, you must follow the rules of the Paycheck Protection Program and use the funds for set purposes. Get a clear picture of what is required, and how to later submit your forgiveness application to your lender.
- PPP Lenders Accepting Loan Forgiveness Applications in 2021
- After the PPP: Your Next Steps Once You've Been Approved
- PPP Loan Forgiveness: The Complete Guide
- How PPP Loan Forgiveness Works for the Self-Employed
- Documents Required to Apply for PPP Loan Forgiveness
- When Can I Submit My PPP Loan Forgiveness Application?
- How to Spend Your PPP Funds (Updated for 2021)
- Owner Compensation Replacement and Full PPP Forgiveness
- What's Considered "Rent" for the PPP?
- How to Fill Out Your PPP Forgiveness Application Form
- PPP Loan Application Form 3508S: Forgiveness Simplified
- Self-Employed Guide to the PPP Forgiveness Application
- PPP Forgiveness: 8 Weeks vs. 24 Weeks
- PPP Audits: What You Need to Know
Additional 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.
- COVID-19 Financial Relief for Business Owners (FAQ)
- New York's COVID-19 Small Business Recovery Grant: A Guide
- A Guide to the Restaurant Revitalization Fund
- The PPP, EIDL, and PUA: Everything You Need to Know
- EIDL vs Paycheck Protection Program: The Breakdown
- How to Use the PPP and EIDL Together
- Should I Apply for an EIDL Loan?
- How to Get an SBA Disaster Loan
- What Can I Spend My EIDL Loan On?
- How to Fill Out Your SBA Disaster Loan Application
- EIDL and Collateral: Your Questions Answered
- What is the $10,000 SBA EIDL Grant?
- What are Partial Unemployment Benefits?
- PPP Loans vs Unemployment Benefits: How to Choose
- 2020 Taxes: How the PPP, EIDL, and PUA Will Affect Your Taxes
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.