Paycheck Protection Program OMB Control No : 3245-0407-2025

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by selecting your business type from the options provided, such as Sole Proprietor or LLC. This is crucial for determining eligibility.
  3. Enter your Business Legal Name and DBA (if applicable), followed by your NAICS Code and Business Address. Ensure that the address does not include a P.O. Box.
  4. Fill in your Business TIN (EIN, SSN, ITIN) and Year of Establishment. If you are self-employed, you may enter 'NA' for the year.
  5. Indicate whether your business meets the size standard by checking the appropriate box regarding employee count.
  6. Provide details on Average Monthly Payroll and select the purpose of the loan from the options listed, ensuring clarity on how funds will be utilized.
  7. List all owners with 20% or more equity in your business, including their names, titles, and ownership percentages.
  8. Complete optional demographic information if desired, then review all entries for accuracy before submitting.

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The Paycheck Protection Program established by the CARES Act, is implemented by the Small Business Administration with support from the Department of the Treasury. This program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits.
Purchasing power parity is an economic term for measuring prices at different locations. It is based on the law of one price, which says that, if there are no transaction costs nor trade barriers for a particular good, then the price for that good should be the same at every location.
As of January 2025, there are no plans to forgive outstanding SBA EIDL loans.
The Paycheck Protection Program is a 2020 program that offered forgivable loans to small businesses during the COVID-19 pandemic, providing funds to maintain payrolls, hire back laid-off employees, and cover expenses such as rent, mortgage interest, and utility bills.
Get information about the SBA loan program that helped businesses keep their workforce employed during the COVID-19 crisis.

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Borrowers of loans of $50,000 or less can now have their loans completely forgiven, essentially turned into grants that do not need to be paid back, by using a check the box self-certification process that the funds were used appropriately.
Small businesses with 500 or fewer employeesincluding nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors are eligible.

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