The Coronavirus Response and Relief Supplemental Appropriations Act of 2021 was signed into law on December 27, 2020. The law includes an additional $284.45 billion in funding for Paycheck Protection Program (PPP) loans to help small businesses.
If you’re a Payroll customer, sign in to see if you’re eligible to apply for a PPP loan application.
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If you’re a Payroll customer, the following steps will make it easy to get started. If one of these does not apply to you, you can still submit your application for a PPP loan to another approved SBA lender. First, you’ll need to gather your relevant business documents.
Relief programs are evolving regularly. For the most up-to-date information, visit SBA.gov.
If you’re a Payroll customer, QuickBooks Capital may be able to help you. If not, gather the following information to apply for PPP loan:
Note: Employees of an organization are counted together with any affiliates, if applicable.
PPP loans may be used for eligible payroll costs (cash compensation, state and local payroll taxes, and certain benefits) and eligible non payroll costs (certain payments of mortgage interest, rent, utilities, operations expenditures, property damage costs, supplier costs, and worker protection expenditures).
In general, small businesses with fewer than 500 employees are eligible to apply for a PPP loan. Second time borrowers with 300 or fewer employees are eligible to apply for a second loan (among other requirements).