Yesterday, the Small Business Administration (“SBA”) has made the application for the Payroll Protection Program (“PPP”) loan available.
Starting this Friday, April 3, 2020, small businesses and sole proprietorships can apply for loans to cover their payroll and other certain expenses through existing SBA lenders. Next Friday, April 10, 2020, independent contractors and self-employed individuals can apply for the loans.
Small businesses interested in applying for a PPP loan should contact their banker to apply for the loan. To find an SBA lender near you, visit www.SBA.gov. Illinois SBA lenders may be found here.
For more information regarding the SBA’s PPP loan program, please see the SBA brochure.
We are committed to assisting our clients through the loan process, and we will provide updates as more information becomes available. Please contact Len Gambino (312-648-2300; email@example.com) or Joan Berg (312-775-3624; firstname.lastname@example.org) with any questions you may have.