Paycheck Protection Program (PPP)

GPTKB entity

Predicate	Object
gptkbp:instanceOf	federal loan program
gptkbp:administeredBy	gptkb:Small_Business_Administration
gptkbp:applicationDeadline	April 2020 to May 2021
gptkbp:createdBy	gptkb:Coronavirus_Aid,_Relief,_and_Economic_Security_Act
gptkbp:dateEnacted	2020
gptkbp:endDate	May 31, 2021
gptkbp:filingMethod	2 or 5 years
gptkbp:firstRoundFunding	$349 billion
gptkbp:forgivableUses	utilities rent mortgage interest payroll costs
gptkbp:fundedBy	gptkb:U.S._federal_government
https://www.w3.org/2000/01/rdf-schema#label	Paycheck Protection Program (PPP)
gptkbp:loanForgiveness	available if certain conditions met
gptkbp:loanInterestRate	1%
gptkbp:maximumLoanAmount	2.5 times average monthly payroll costs
gptkbp:notableFeature	funds must be used for eligible expenses loans may be fully forgiven no collateral required no personal guarantees required subject to audit and review
gptkbp:numberOfLoans	over 11 million
gptkbp:purpose	help small businesses maintain payroll during COVID-19 pandemic
gptkbp:relatedLegislation	gptkb:Economic_Aid_to_Hard-Hit_Small_Businesses,_Nonprofits,_and_Venues_Act gptkb:Paycheck_Protection_Program_Flexibility_Act
gptkbp:secondRoundFunding	$310 billion
gptkbp:targetAudience	independent contractors nonprofit organizations small businesses self-employed individuals
gptkbp:totalDisbursed	over $800 billion
gptkbp:bfsParent	gptkb:SBA gptkb:U.S._Small_Business_Administration
gptkbp:bfsLayer	5