COVID-19: White House announces release of additional guidelines for Paycheck Protection Program
From the Automotive Service Association
WASHINGTON, D.C. – Late last evening, the White House announced that the U.S. Department of Treasury had released additional guidance for the Paycheck Protection Program:
- Paycheck Protection Program – Applicable Affiliation Rules
- Paycheck Protection Program – Interim Final Rule on Affiliation
For more information and updates, visit Treasury.gov/CARES and SBA.gov/PayCheckProtection.
Assistance for American Workers and Families
In the weeks immediately after the passage of the CARES Act, Americans will see fast and direct relief in the form of Economic Impact Payments. For more information, CLICK HERE.
Assistance for Small Businesses
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
- For a top-line overview of the program CLICK HERE
- If you’re a lender, more information can be found HERE
- If you’re a borrower, more information can be found HERE
- PPP Borrower Application Form (Updated 4/2/20)
- PPP Lender Application Form
- PPP New Lender Application Form (Federally Insured Depository Institutions, Federally Insured Credit Unions, Farm Credit System Institutions)
- Paycheck Protection Program – Interim Final Rule
- Paycheck Protection Program – Interim Final Rule on Affiliation
- Paycheck Protection Program – Applicable Affiliation Rules
