The Paycheck Protection Program (PPP) officially ended on May 31, 2021, and new applications are no longer being accepted as of 2025. The Small Business Administration (SBA) has exhausted program funds, although existing borrowers may still be eligible to apply for loan forgiveness through their lenders.
The Small Business Administration (SBA) announced in May 2021 that they have exhausted the funds allocated for the Paycheck Protection Program (PPP) and are no longer accepting applications.
The top five PPP lenders by net dollar amount were: JPMorgan Chase, Bank of America, PNC Bank, Truist and Wells Fargo. By number of loans made, top lenders were Bank of America, JPMorgan Chase, Wells Fargo, Cross River Bank and U.S. Bank.
Who will be audited? PPP loans in excess of $2 million are automatically triggered for an audit by the SBA. The SBA has created a safe harbor for any PPP loan borrower that, together with its affiliates, received loans of less than $2 million.
These include term loans, SBA loans, lines of credit, merchant cash advances, invoice factoring and invoice financing as well as personal loans and business credit cards. As always, compare your options to make sure you're getting the best deal.
The federal False Claims Act imposes civil and criminal penalties for fraud targeting federal government programs. The DOJ can pursue civil charges in cases involving unintentional PPP loan application or forgiveness certification fraud, while intentional PPP loan fraud can lead to criminal prosecution.
In total, Congress set aside an additional $284.5 billion for new and second draw PPP loans in Round 3, which will extend until March 31, 2021, to the extent funding lasts.
No, the Paycheck Protection Program (PPP) is not coming back for new loans; the program officially ended in May 2021, with the last funds disbursed, but existing borrowers can still apply for loan forgiveness, a process the SBA continues to support for those who meet eligibility criteria, U.S. Small Business Administration (SBA). While new funding is not available, the SBA website provides resources for managing forgiveness, which requires specific use of funds for payroll and other eligible expenses, Small Business Administration (SBA).
In case you are not on the SBA email list, here is a link to the agency's Preliminary Re-Opening Guidance for the SBA 7(a) and 504 Loan Programs. Most importantly, the message announced that OCA would reopen E-Tran at 12:01 AM ET on November 13, 2025, for purposes of processing 7(a) and 504 loans.
Yes—businesses can have more than one SBA loan, provided they meet the eligibility requirements for each and maintain a strong repayment history. The Small Business Administration does not place a strict limit on the number of SBA loans a business can hold.
The PPP program was created to provide relief to small businesses during the COVID-19 pandemic to preserve jobs and prevent establishment closures. These low-interest loans were fully SBA-guaranteed and eligible for full loan forgiveness.
According to pandemic oversight data, there are currently more than 700 active investigations into PPP and EIDL loan fraud.
A "flipper loan," or Fix-and-Flip Loan, is a short-term financing tool for real estate investors to buy, renovate (fix), and quickly resell (flip) distressed properties for profit, covering both purchase and rehab costs, and is also known as a rehab loan or private money loan. These loans are faster to get than traditional mortgages and are based on the property's potential After Repair Value (ARV), not just its current condition, offering flexible terms and fast closings.
The "$100,000 loophole" for family loans refers to a tax rule where lenders avoid reporting imputed interest if the total loan amount (plus any other outstanding loans to that borrower) is $100,000 or less, and the borrower's net investment income is $1,000 or less; otherwise, the lender's taxable imputed interest is limited to the borrower's actual net investment income, avoiding the higher Applicable Federal Rates (AFR) normally required, making it a way to offer lower-interest loans with minimal tax hassle for the family.
The 2025 Emergency Wildfire Help Loan Program (the Program), administered by the California Health Facilities Financing Authority (CHFFA) within the State Treasurer's Office, offers 0% interest loans to assist eligible non-profit health facilities in the state of California that have been impacted by the 2025 wildfires ...
The Targeted EIDL Advance provided funds of up to $10,000 to applicants who were in a low-income community, could demonstrate more than 30% reduction in revenue during an eight-week period beginning on March 2, 2020, or later, and had 300 or fewer employees.