Dear Neighbor, The deadline for small businesses and nonprofits to apply for Paycheck Protection Program (PPP) loans is TODAY, Tuesday, June 30, 2020. As of this morning, $134,453,990,454 remains available in the program for eligible applicants. PPP loans provide access to capital to cover the cost of retaining employees. The Small Business Administration (SBA) will forgive loans if at least 60% of the loan is used for payroll and the rest of the loan can be used for payroll, rent, mortgage interest or utilities. For more information from the SBA, click here. To find an eligible PPP loan lender, click here. The SBA is also accepting Emergency Injury Disaster Loan (EIDL) applications from all eligible businesses. The EIDL program offers low-interest federal disaster loans of up to $2 million, with quick access to small amounts of capital to cover costs right now. For more information from the SBA, click here. To apply for the EIDL program, click here. If you are having trouble contacting any federal, state or city agency, please contact my offices at (718) 237-2211 or (718) 373-0033.
Sincerely, Congressman Hakeem Jeffries New York's Eighth Congressional District |