Paycheck Protection Program (PPP) loans are forgivable loans provided by the Small Business Administration (SBA) that help businesses impacted by COVID-19 to cover their payroll expenses.
The deadline for businesses to submit new Paycheck Protection Program (PPP) loan applications was recently extended from March 31, 2021 to May 31, 2021.
The Small Business Administration (SBA) is accepting applications for first and second draw PPP loans, with relaxed loan forgiveness criteria available thanks to recent legislation. Businesses who borrow $150,000 or less can file for loan forgiveness using a simplified application.
Read on for detailed answers to your most frequently asked questions on PPP loans, including information on forgiveness, taxability, and more.
calculating your ppp loan amount
Second round paycheck protection program (ppp) loans
Paycheck protection program (ppp) loan Forgiveness
Paycheck protection program (ppp) loans and taxes
related loan programs
get in touch
For help applying for PPP loan financing, getting your PPP loan forgiven, maximizing your tax savings, and more, please contact your trusted Chugh CPAs, LLP professional.
 Consolidated Appropriations Act, 2021.