The Department of Treasury has announced that eligible small businesses will be able to apply to the CARES Act Paycheck Protection Program (PPP) starting this Friday, April 3. Independent contractors and those who are self-employed may apply starting on April 10.
Applications are available directly through the Department of Treasury at this link. Businesses should review the Borrowers Information Sheet issued by the Department of Treasury. The Small Business Administration (SBA) has also issued guidance, available here.
Businesses may apply for the PPP through any existing SBA lender or any federally insured depository institution, federally insured credit union, or Farm Credit System institution that is currently participating. See this list below for current SBA participating lenders in the Capital Region.
The UAlbany Small Business Development Center will be hosting live online informational webinars about the application process over the next three days.
Business owners can find additional resources on the #SupportsmAlbany Businesses Resources page.