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Paycheck Protection Program


WBC has worked diligently with America’s SBDC to create a consolidated platform on COVID-19 related information for small businesses. For up-to-date COVID-19 news that you can trust, go to our federal resources’ website,

If you are a woman-owned business counting on loan forgiveness or have specific PPP or EIDL program questions, utilize your local WBC as a resource and be sure to document ALL company activity. Additional resources to help you keep track of aid program updates and rules can be found on the SBA’s Coronavirus Small Business Guidance & Loan Resources page.


Updated May 29, 2020

Yesterday, the Small Business Administration (SBA) and Treasury Department announced that $10B of the remaining Paycheck Protection Program (PPP) funds will be exclusively reserved for Community Development Financial Institutions (CDFIs.) To view the full breakdown of PPP approved loans made as of this week, click here.


On the legislative front, yesterday the House passed H.R. 7010 the Paycheck Protection Program Flexibility Act (PPPFA) of 2020. This bipartisan legislation authored by Reps. Dean Phillips (D-MN) and Chip Roy (R-TX) received near-full bipartisan support. Among other changes to the PPP, the bill is set to extend the covered forgiveness period from eight (8) weeks to 24 weeks and reduce the 75/25 requirement to a 60/40 rule.  While Senate Small Business Committee Chairman, Marco Rubio (R-FL) has several objections to the House bill, the Senate is likely to vote on the bill upon their return next week. 


May 28, 2020


This afternoon, the House is set to vote on H.R. 7010 the Paycheck Protection Program Flexibility Act of 2020, a bill that will amend the signature CARES Act program. The bipartisan legislation modifies the eligible expense rule from 75/25 to 60/40 for borrowers and adjust the loan covered period from eight (8) weeks to 24 weeks. 


Also today, the House Committee on Small Business Subcommittee on Contracting and Infrastructure will hold a virtual forum, providing an opportunity for Members to hear how small businesses have been able to pivot their business models, through the counseling and training of their local Small Business Development Centers (SBDCs), to survive during the COVID-19 pandemic. To watch, click here.


May 26, 2020

On the Paycheck Protection Program (PPP) front, the Small Business Administration (SBA) has approved more than 4.4 million PPP loans totaling more than $511 billion. As of Saturday, May 23rd, the signature loan program close to $138 billion remaining in additional funding.


Most notably, over the weekend, the SBA released additional guidance on the PPP loan forgiveness application. The release covers revision procedures , including borrower and lender procedural responsibilities. Prism Group will circulate an updated PPP loan forgiveness guide with this information to better equip loan borrowers. To view the current guideclick here, and to view the interim loan forgiveness guidance, click here.


May 22, 2020

The Senate reached a deal on a bill that will narrowly amend the Paycheck Protection Program's (PPP). However, the chamber is not scheduled to take up a vote on the bipartisan measure until their return in June. The Paycheck Protection Extension Act would add new legal protections for lenders, extend the covered loan period to 16 weeks from 8 weeks, and allow businesses to use loans to purchase personal protective equipment for employees.


May 21, 2020

Senate Small Business Committee Chairman, Marco Rubio (R-FL) mentioned that he will focus on passing a narrow bill that will amend the Paycheck Protection Program's (PPP) eight (8)-week provision. This announcement comes as the House is slated to take up a vote on the Paycheck Protection Flexibility Act next week. This bipartisan bill is expected to modify the eight (8)-week period, eliminate the 75%/ 25%, and extend the required June 30th rehiring deadline.

The Committee on Small Business Subcommittee on Innovation and Workforce Development held a virtual forum where the Committee heard from policyholders and interested stakeholders about small businesses concerning business interruption coverage.

May 20, 2020

Next week, The House is expected to take up a vote on the Paycheck Protection Flexibility Act. This bill is expected to provide flexibility in how PPP recipients spend their loans while still being able to have the loans forgiven. The legislation would give businesses 24 weeks to spend the money instead of eight. It would also eliminates restrictions on 75/25 rule. If this vote takes place, lawmakers may have an incentive to delay negotiations on the next stimulus bill. Read more here.

Updated May 19, 2020

Please click the below link to review AWBC's breakdown of the new PPP Loan Forgiveness Guidelines:


Updated May 17, 2020

SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application

The Small Business Administration (SBA), in collaboration with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. 

The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).  SBA will also soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities.

The form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers, including:

  • Options for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles
  • Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the eight-week period after receiving their PPP loan
  • Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness
  • Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by June 30
  • Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined

These documents will help small businesses seek forgiveness at the conclusion of the eight week covered period.

May 15, 2020

The Department of Treasury released updated guidance on PPP loans via  Frequently Asked Questions (FAQs.) The new guidance provides a breakdown of how the SBA will review a borrowers' good-faith certificate concerning their loan requests. Notably, the updated guidance mentions that PPP participants that borrowed less than $2 million will be deemed to have met the required certification of good-faith. To view the full updated document, click here

May 8, 2020

While we await further guidance from the SBA and Department of Treasury on PPP loan forgiveness requirements, please refer to the below one pager for the WBC community. 


May 4, 2020

The SBA announced that EIDL loans will be limited for agricultural-based businesses only. This changes goes in tandem with the SBA’s implementation of a $150,000 limit on the size of loans. This amount is a significant change to the original limit of $2 million that has previously been widely recognized.


April 23, 2020

The House is expected to vote on the CARES Act 2.0 today. Theinterimdeal willadd an additional$320 billion to thedepleted Paycheck Protection Program (PPP),$60 billion for Economic Injury and Disaster Loans (EIDL), $75 billion for hospitals and $25 billion to broaden testing.The president is expected sign the relief package into law this week.


April 22, 2020

As Congress works to provide additional funding for the EIDL loan program, the SBA released state by state dataon disbursed COVID-19EIDL funds. As of Monday, April 20, the agency has approved 27,000 loanscosting $5.5B in total. Thisreleasecomes as theDepartmentexperienceda data breach in the disaster loan application portal, which affected 8,000 loan applicants in March.

Yesterday, over 20 small business organizations sent a letter to Congressional leadership urging policymakers to make necessary changes to the PPP program to better reflect the needs ofsmallbusinessesaffected by the national health emergency.Several of the letterrequests include:

  • Extend the duration of the program through December 31, 2020. 
  • Remove funding uncertainty. 
  • Increase borrowing limits so businesses can withstand an extended period of lost revenues and operational disruption. 
  • Expand the list of covered expenses.
  • Extend covered period for loan forgiveness.
  • Make re-hiring deadline contingent on when the loan commences.


April 21, 2020 

Senate lawmakers have passed CARES Act 2.0. The House is expected to vote on the interim relief funding on Thursday. If this timeline is correct, the package will most likely be signed by the president no later than Friday.

April 17, 2020

The authorization limit of the PPP has reached the maximum amount appropriated by Congress. The SBA will not be able to accept any new loan applications for the Paycheck Protection Program.


On Friday, April 17, Senate Small Business Chairman, Marco Rubio (R-FL) sent a letter to the Department of Treasury and the SBA. In the letter, Senator Rubio urged both agencies to release further guidance on the PPP program.


Congressional leaders and the Trump administration are working towards  a bipartisan deal that will appropriate additional funding to the Paycheck Protection Program (PPP), Economic Injury Disaster Loan program (EIDL), and hospitals, among others.

Prior to the allocated loan amount being reached, small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, were eligible to apply if they also meet program size standards.

    • For a top-line overview of the program, from the Treasury Department CLICK HERE
    • For SBA's Information on PPP, click HERE
    • If you’re a borrower, more information can be found HERE 
    • The application for borrowers can be found HERE


    Apply for SBA's Economic Injury Disaster Loan (EIDL)





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