PPP loan proceeds can be used for costs related to payroll, rent or lease, mortgage interest payments, utilities services, operational expenses, property damage, supplier costs, and worker protection expenses.

You can apply for PPP 1.0 (First round) or PPP 2.0 (2nd round) on or before March 31st, 2020.

For most borrowers, the maximum loan amount of a Second Draw PPP Loan is 2.5x average monthly 2019 or 2020 payroll costs up to $2 million. For borrowers in the Accommodation and Food Services sector (use NAICS 72 to confirm), the maximum loan amount for a Second Draw PPP Loan is 3.5x average monthly 2019 or 2020 payroll costs up to $2 million.

Loan forgiveness for these loans is available for businesses that meet the requirements of the Paycheck Protection Program and maintain or restore their payroll volumes to pre-crisis levels.