April 3, 2020 

 

As of Friday, April 3, the Small Business Administration has opened up the Paycheck Protection Program loan applications. The application can be downloaded here

A few things to note: 

  • Please be patient with banks as they only just received guidance on processing the loans late Thursday night. 
  • The biggest change is that 1099 wages are now excluded from calculations. 
  • For additional guidance in understanding the Paycheck Protection Program vs the Economic Injury Disaster Loan, click here

Additional Resource
The Retail Merchants hosted a webinar on "Leading Through a Crisis" with Village Bank on Wednesday, April 1, and the full webinar can be watched here.