The Paycheck Protection Program was launched in March as part of the passage of the CARES Act, appropriating roughly $349 billion for small businesses to help them keep employees on payroll and cover expenses like rent, mortgage and utilities to help them get back in business one the COVID crisis subsides.
A second round of PPP funds was approved for over $310 billion and signed into law on April 24, giving many business owners who missed out on the first round a second bite at the apple. There are additional non-bank lenders approved to lend in this round, meaning funds will likely go fast and more businesses without traditional bank relationships will be helped with the new round of funds. It's essential to apply quickly, as funds are expected to run out in record time.
The Nav CARES Act Calculator helps business owners estimate their potential PPP loan amount so they can apply with confidence.
Powered by decades of business lending expertise and technology, the calculator helps simplify the complexity of a government program to make it easy for business owners to understand how much they could qualify for with SBA lenders.