Two of the most popular questions lately have been, “What is the Paycheck Protection Program and how can I apply?”
Keep reading to find out your options.
While the city’s Economic Development Director, Elizabeth Valla, was (and still is) able to help area businesses fill out applications for the Small Business Association (SBA) Economic Injury Disaster Loan (EIDL), the Paycheck Protection Program (PPP) is a bit different.
Similar to the EIDL, the PPP is out there to help keep businesses afloat during this tough time and keep employees in their positions without having to apply for unemployment.
**The PPP opened up the applications to small businesses and sole proprietors as of today (April 3,2020).
**The PPP will open up to independent contractors and self-employed will be able to apply April 10, 2020.
In order to apply for the PPP, you will need to go through your accountant or directly through an SBA approved lender.
To see SBA approved lenders CLICK HERE *Scribner Bank is in the process of becoming an approved lender, as of 4.6.2020*
To see the PPP application CLICK HERE
To see the PPP official fact sheet CLICK HERE
Resources Elizabeth has found helpful in better understanding the PPP process:
Disaster Loans Vs Paycheck Protection Program Loans
Understanding the Paycheck Protection Program in the CARES Act
How to Apply for the PPP Forgivable Loan
IF YOU HAVE NOT YET APPLIED FOR THE SBA EIDL and would like to learn more CLICK HERE
For any questions or if you would like help filling out the EIDL, contact Elizabeth Valla at 402.664.3101 or email her at EconDev@scribner-ne.gov.