The Paycheck Protection Program deadline has been extended to Aug. 8, and the Weaverville Chamber of Commerce is encouraging businesses to apply.
If a business owner needs assistance, he or she can contact the NorCal Small Business Development Center/Finance Center which is available 24 hours a day to answer questions and/or provide assistance at no cost for both the PPP program or the Economic Injury Disaster Loan. Call them at 1-833-ASK-SBDC or email at email@example.com.
The Paycheck Protection Program loan is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll although is also available for sole proprieters. SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Here is the link to find which lending institutions are certified by SBA for the PPP loan: www.sba.gov/paycheckprotection/find?address=96093&pageNumber=1. Just add your zip code and you can see the list of lenders in your area, however some of them may no longer be taking applications at this time. You should consult with your local lender as to whether it is participating in the program.
For more information about the PPP program along with the forms that you might be required to submit, visit www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program.