Some of us need a little more information before we dive into applying for a loan, regardless of how it purports to being able to be fully forgiven. If that’s you, I applaud you (and am of course, among your ranks.)
Since I’ve already done that due diligence for myself, below are some great resources to get you started so you can dig as deep or as little as you want.
My only caution is that you not let analysis-paralysis take hold. Don’t read until you’ve hit the end of the internet. If you qualify for the PPP, read a bit then get going on processing an application. If you need one, here’s a link to all SBA PPP lenders, as well as to my own lender, National Bank of Arizona.*
*If you’re finding the information I’ve provided helpful and you choose to apply with NB|AZ , you may list my name on your application as your Agent (the program’s term for someone who’s advised or assisted you) and I would then be compensated from them if your loan is funded. There is no cost to you and you’re under no obligation to apply with them or include my name.
- U.S. Treasury – PPP Overview
This overview is helpful in explaining the program to those not familiar with it. It’s from March 31st but still on the Treasury website. The program has since been narrowed to reduce larger entities and public companies from receiving funding going forward.
- SBA – PPP page
The Small Business Administration (SBA) is running the PPP Loan program with guidance from the U.S. Treasury Department. Information there includes links to eligibility guidelines, participating lenders (those authorized, it does not screen for those currently accepting applications), and guidance for calculating the amount of the loans.
- SBA – FAQs
The SBA has been issuing FAQs about the PPP program to offer additional guidance to lenders and those considering applying for the program. This link leads you to their most recent guidance was published May 3, 2020* that you can open as a PDF.
* This document is being updated every few weeks as new clarifications and guidance are provided.
- SBA – Application
You can get a copy of the PPP Borrower application form on the SBA website. Lenders may add questions to their applications to clarify what’s being asked or to pre-fill it with information that you’ve previously submitted.
- U.S. Treasury – PPP Page
Information from the U.S. Treasury Dept. about the PPP Program. This has similar information that you’ll see on the SBA page plus weekly reports on distributions and separately produced FAQ sheets.
- SBDC – COVID-19 Resource page
The Arizona Small Business Development Corporation (SBDC) has a really comprehensive site full of information and resources for the community including PPP information that urges potential PPP applicants to act quickly in filing for assistance.
- AZ Commerce Authority – COVID-19 Resources
The Arizona Commerce Authority has some great resources for small businesses specific to the PPP, Q&A’s about handing different employment scenarios. It’s well worth looking around on their site.
This IRS page for business is more general than other PPP-specific pages but is helpful if you want to reviewing the revised filing deadlines and tax credits that may be available to you or others that you know or work with.
The American Institute of Certified Public Accountants (AICPA) has a page of information for CPAs that has some resources for those that want to delve further into understanding hte nuances of the program or what to do in particular circumstances (seasonal companies, new companies, etc.).
Just because I like to see what banks are discussing, here’s a link to the American Bankers Association page which highlights their frustrations with the program, processing challenges, and fraud concerns.
Need a Lender to Process your PPP application?
The National Bank of Arizona is accepting new customers from any state. They provided me with excellent service when processing my own PPP loan and I’m happy to recommend them.
*If links or information I’ve provided have been helpful to you and you choose to use NB|AZ, please feel free to list me as your Agent on the application. There is no cost to you but I would receive a small commission from the National Bank of Arizona if your PPP loan is funded. Thank you!