Paycheck Protection Program

Economic support for small-businesses impacted by the Coronavirus is provided through the small Business Administration (SBA).

Please check back regularly for program updates or additions. Any questions can be sent to Jared.Pinkus@Saukcountywi.gov.

PPP Borrower Application Form: https://www.sba.gov/sites/default/files/2020-04/PPP%20Borrower%20Applica...

Additional Information:

1. Small Business Administration https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/pa...
2. Treasury Department Fact Sheet: https://home.treasury.gov/system/files/136/PPP--Fact-Sheet.pdf
3. Paycheck Protection Program Lenders: https://www.sba.gov/paycheckprotection/find

Frequently Asked Questions

1. Can you use both programs? Yes but cannot use money from both for the same purpose. 
2. Is there support for businesses for over 500-employees? These programs are meant for smaller business under 500 employees. There may be opportunities for larger businesses in the near future. 
3. Paycheck Protection Program (PPP) – Forgiveness if for payroll, utilities and rent. 
4. What if I have a small business and cannot take on extra debt? This is not the last set of bills to be passed. Reach out to your Representatives to highlight your specific needs/challenges
5. Can you keep the $10,000 advance on EIDL if denied the loan or turn the loan down? Yes, SBA does have other bridge loans but not part of CARES act
6. What If I already have an SBA loan? There is a debt relief program covering 7(a)-loans or current SBA loans. These will covered P&I for six-months.
7. What if I have lost inventory?  Call insurance carrier, the current programs are to cover expenses not lost inventory.
8. If I apply for PPP do I have to have employees on the payroll?  Can apply without employees on the pay role but have to have had prior to February 15th. Good for 8-weeks after the loan not prior to. Have to rehire employees if you were forced to lay them off. 
9. Lower Wage Employees – Why not just go on employment if they would be making more that way? If you have work for your employees – you need them to do their job. If they are laid off already and don’t want to come back to work because they are receiving more money through unemployment, you need to report they are not willing to work. Boost in unemployment is only temporary
10. What if we have a new payroll need? Would just lower their annual average payroll so the amount they can get would not be very high but can be used to pay for new positions (i.e. if two part time previously, funds can be used for 1 full-time) Have until June 30th  to bring people back –
11. If an employee wants to come back part time, can we adjust wages or hire another part time? FTE's and total payroll needs to be the same.
12. SBA does have a hotline to call if specific questions
13. PPP – 75% has to be spent on payroll and related expenses to be forgiven
14. If you don’t need funds for Payroll go to EIDL