The Paycheck Protection Program (PPP) Loans program provides cash-flow assistance through loans to employers who maintain their payroll during this emergency. The U.S. Small Business Administration (SBA) is currently offering First Draw PPP loans (for first-time program participants) and Second Draw PPP loans (for certain businesses that have previously received a PPP loan). Businesses can learn more about PPP at the SBA website.
The SBA provides a tool to find a local lender to assist with a PPP loan application. If a business doesn’t have a trusted lender, the Vermont Economic Development Authority is also available to assist those in need of help navigating the program specifics and applications.
For additional guidance to address borrower and lender questions concerning the implementation of the Paycheck Protection Program, please refer to Paycheck Protection Program Loans Frequently Asked Questions (FAQs) from the Department of the Treasury.