1. Office of Advocacy -U.S. Small Business Administration---https://cdn.advocacy.sba.gov/wp-content/uploads/2018/12/21060437/Small-Business-GDP-1998-2014.pdf)
2. Eligible applicants include business concerns, 501(c)3 nonprofit organizations, tax exempt veteran organizations, tribal business concerns, sole proprietors, independent contractors and other self-employed individuals. An applicant must have been in operation on February 15, 2020 and the workforce headcount is not more than 500 employees subject to affiliation rules. Excluded industries include businesses primarily engaged in lending or investment and passive investment in real estate. Hedge funds and private equity firms are not eligible. Round two included 501 ( c ) 6 organizations that have no more than 300 employees. There is also a special grant provision for shuttered venue operators like movie theaters, museums, theaters and zoos.
3. The applicant is not required to demonstrate that it could not find credit anywhere else but is required to certify in good faith that the current economic uncertainty makes this loan request necessary to support ongoing operations.
4. Participating Lenders - https://www.sba.gov/document/support-paycheck-protection-program-participating-lenders
5. The Paycheck Protection Program Flexibility Act (PPPFA) of June 5, 2020, reduced the percentage to be spent on payroll costs from 75% to 60%.
7. In addition to PPP law, the new law allocates an additional $20 billion to the Economic Injury Disaster Loan Program (EIDL).
Application Form Round 1 - https://www.sba.gov/sites/default/files/2020-11/2483-PPP-Borrower-Application-Form-508.pdf
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