Keeping You Informed about the SBA Payroll Protection Program
The Small Business Administration has announced exciting and promising special loan programs to help small businesses.
We are accepting Payroll Protection Program (PPP) loan application packages from our existing business members.
The Small Business Development Centers of Michigan (https://sbdcmichigan.org/) offer comprehensive education, including on-demand webinars, to help businesses navigate through these challenging times and build for the future.
In preparation for applying for the PPP, here are some tips:
- Consult your CPA/Bookkeeper/Lawyer for the loan and grant programs that would best fit your business;
- Review all of the details about the PPP Loan (https://sbdcmichigan.org/ppp/);
- Calculate the PPP loan amount you can apply for;
- Review the attached Document Checklist and Certification
- Get your financial information and payroll reports together, including but not limited to:
- 2019 Profit & Loss
- 1st Q, 2020 Profit & Loss
- 2019 IRS Quarterly 940, 941 or 944 payroll tax reports
- Thoroughly complete the PDF-fillable PPP application
- Contact us Monday - Friday at 734.464.8079 to speak with a loan officer and arrange submission
The Economic Injury Disaster Grant (EIDG) and the Economic Injury Disaster Loan (EIDL) are available now. To apply for these loans, go directly to the SBA.
You can read the most current details regarding these programs at https://www.sba.gov/
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