As of May 5, 2021 The SBA announced that after a year of operation and serving more than eight million small businesses, funding for the Paycheck Protection Program has been exhausted.
While funds are not available to all lenders, the SBA will continue to accept new qualifying applications funded through Community Financial Institutions and is committed to delivering economic aid through many other COVID relief programs.
What is a CFI (Community Financial Institution)?
A CFI is a designated financial institution who serves underserved communities, such as:
- CFDI - Community Financial Development Institution
- MDI - Minority Deposit Institution
- CDC - Community Development Corporation
- Microlender Intermediary
You can find a participating Community Financial Institution using the SBA's Lender Match.
For more information and resources regarding the Paycheck Protection Program visit the US Treasury's CARES Act website .
Ready to Ask for Forgiveness?
There have been many changes throughout the program regarding forgiveness. For the most updated information and borrower requirements, visit the US Treasury's CARES Act Website.
The forgiveness site will guide you step-by-step to ensure you receive your maximum forgiveness amount. Create your profile by clicking the button below. Once you have created your profile, you'll be able to save and make changes before making your final submission. Have questions? There is also a live agent to assist you along the way.