Small Business Administration's Paycheck Protection Program (PPP)
Links of Interest:
Documents of Interest:
- Overview of the Small Business Paycheck Protection Program
Information for Lenders
Information for Borrowers
Borrower Application Form (as of April 3, 2020)
Lender Application Form (as of April 3, 2020)
New Lender Application Form (Federally Insured Depository Institutions, Federally Insured Credit Unions, Farm Credit System Institutions)
New Lender Application Form (Non-Bank and Non-Insured Depository Institution Lenders)
Interim Final Rule
Interim Final Rule on Affiliation
Applicable Affiliation Rules for the Public
Frequently Asked Questions
- Comparison of COVID-19 Loan Programs (PPP & EIDL)
- Graphic Comparing the PPP and EIDL
- How to Calculate Loan Amounts
- U.S. Chamber of Commerce (COC): Guide to PPP Loan Forgiveness
- April 14, 2020: Paycheck Protection Program Approvals Report
- April 7, 2020: Mississippi Bankers Association Press Release Regarding the Paycheck Protection Program
- Paycheck Protection Program One-Pager - The City of Clinton, Clinton Chamber of Commerce, and Main Street Clinton released this document that contains basic details about the program at this time, however, the requirements and benefits continue to be modified and may vary depending on your business. The Clinton Chamber suggests that you consult with your accountant or financial institution to complete a Paycheck Protection Program application and confirm which resources may be available specifically to you.
UPDATE (as of April 15, 2020):
On April 3, 2020, SBA approved lenders were able to start processing loan applications under the Paycheck Protection Program (PPP). The PPP is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The SBA will forgive these loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
As of April 14, 2020, more than 1 million loans have been approved nationally for a total of almost $248 billion.
In Mississippi, 14,209 loans have been authorized resulting in the approval of more than $1.9 billion.
See the SBA's Paycheck Protection Program's Approval Report as of April 13, 2020.