PPP Loans for Businesses with Fewer Than 20 Employees

Through March 10, 2021, only businesses with fewer than 20 employees can apply for a U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) loan. This exclusive application period allows lenders to focus on serving very small businesses such as family child care educators and early care and education programs.

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The Paycheck Protection Program provides businesses with funds to pay up to eight weeks of payroll costs (including benefits). Funds may also be used to pay mortgage interest, rent, utilities, worker protection costs related to COVID-19, and other qualifying expenses.

Borrowers can apply for a First or Second Draw PPP Loan through any existing SBA 7(a) lender or federally insured depository institution, federally insured credit union, eligible non-bank lender, or Farm Credit System institution that is participating in PPP. Loans will have the same terms regardless of lender or borrower.

Only businesses with fewer than 20 employees will be able to apply for paycheck protection loans from February 24 through March 10. The program's application phase ends for all businesses on March 31.

For more information, visit the Small Business Association website or view this document.