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Unfortunately, PPP loans in 2022 arent happening eligibility for the program ended in May 2021 and there are no signs of it coming back. There are other options for securing small business funding besides PPP loans. Read on to learn about your options for how to get the funding you need.
Your lender is responsible for notifying you of the forgiveness amount paid by SBA and the date on which your first payment will be due, if applicable. Borrowers who need assistance with direct forgiveness can contact SBA at our dedicated forgiveness call center: 877-552-2692.
The business must have fewer than 500 employees. The business must meet other SBA requirements. Sole proprietors, independent contractors and self-employed individuals are eligible. Hospitality and food-service businesses with fewer than 500 employees per physical location are eligible.
Forgivable Loans A popular tool used to attract top talent is the employee forgivable loan. Employers often issue these loans as sign-on or retention bonuses to retain and attract top executives. Think of these loans as providing top talent with upfront cash.
The PPP ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness. SBA also offers additional COVID-19 relief.

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Are PPP loans still available? No! The PPP expired on September 30, 2021, but Congress has legislation pending that would extend the program through 2022. If the government passes this legislation, businesses will be able to make PPP loan applications through December 31, 2022.
Payment receipts, cancelled checks, or account statements documenting the amount of any employer contributions to employee health insurance and retirement plans that the Borrower included in the forgiveness amount (PPP Schedule A, lines (6) and (7)).
A loan requires you to repay the money you borrow, whereas a grant does not. Grants are, essentially, a gift. In other words, theyre non-repayable. Grants may be awarded by government departments, trusts, or corporations and given to individuals, businesses, educational institutions, or non-profits.
A forgivable loan, also called a soft second, is a form of loan in which its entirety, or a portion of it, can be forgiven or deferred for a period of time by the lender when certain conditions are met.
Forgivable loans are a type of loan where borrowers dont have to pay back some or all of the balance owed, provided they meet certain conditions. Usually, these loans are related to the federal government, but they are also offered by state-run programs and private companies (usually as a recruiting tool).

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