Worth watching: What We Know Right Now

Webinar replay: What We Know Right Now

Watch a replay of this helpful with Charles Potts on the new CARES Act Paycheck Protection Program (PPP). This was a collaboration between Invest Atlanta, Technology Association of Georgia (TAG), Advanced Technology Development Center (ATDC), Atlanta Tech Village (ATV), and the Metro Atlanta Chamber of Commerce (MACOC) in partnership with Silicon Valley Bank, Independent Community Bankers of America (ICBA), and Mailchimp.

Paycheck Protection Program (PPP) Loans

What types of businesses and entities are eligible for a PPP loan?

What types of businesses and entities are eligible for a PPP loan?

From The Small Business Owner’s Guide to the CARES Act:
• Businesses and entities must have been in operation on February 15, 2020.
• Small business concerns, as well as any business concern, a 501(c)(3) nonprofit organization, a 501(c)(19) veterans organization, or Tribal business concern described in section 31(b)(2)(C) that has fewer than 500 employees, or the applicable size standard in number of employees for the North American Industry Classification System (NAICS) industry as provided by SBA, if higher.
• Individuals who operate a sole proprietorship or as an independent contractor and eligible self-employed individuals.
• Any business concern that employs not more than 500 employees per physical location of the business concern and that is assigned a NAICS code beginning with 72, for which the affiliation rules are waived.
• Affiliation rules are also waived for any business concern operating as a franchise that is assigned a franchise identifier code by the Administration, and company that receives funding through a Small Business Investment Company.