PPP Forgiveness Application is Now Available

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PPP Forgiveness Application is Now Available

Information as of June 12, 2020

The Small Business Administration (SBA) and Treasury of the United States released the Paycheck Protection Program loan forgiveness application and detailed instructions for the application.

The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).  SBA will also soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities.

The form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers, including:

  • Options for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles
  • Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the eight-week period after receiving their PPP loan
  • Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness
  • Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by June 30
  • Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined


The PPP was created by the CARES Act to provide forgivable loans to eligible small businesses to keep American workers on the payroll during the COVID-19 pandemic.  The documents released will help small businesses seek forgiveness at the conclusion of the eight-week covered period, which begins with the disbursement of their loans.

Click here to view the application and instructions. Deadline to apply for PPP funding is June 30. Deadline to apply for Forgiveness is extended to Dec. 31.

For more information provided by the SBA about PPP funding and forgiveness, visit the SBA Website.

PPP Funding Still Available in Second Wave of Small Business Help

Information as of May 15, 2020

There is still funding available for the Paycheck Protection Program. Talking with the Garland Chamber local banks, there is between $90-100 billion left in PPP funding. If you haven’t applied, talk with your bank or current lender to see if you are eligible. At the Chamber’s previous BOLD Speaker Series, Texas Security Bank mentions that you are able to find out ahead of time if you qualify. Look at line 31 of your Schedule C. If the line is zero or negative, there is no qualification for the PPP loans. Listen to the April BOLD Speaker Series 2.0 webinar below for more tips on how to prepare to apply for PPP loans.

April BOLD Webinar


Click below for more resources to help you and your business apply for PPP and other SBA loans.


PPP Guide and Checklist

Eligibility for SBA Loans

FAQ Provided by SBA


As businesses open, there are many questions about how to recover, get back to normal, and employees. The Small Business Development Center counselors are here to help. Judith Collins can answer questions about funding, marketing, and business operations. Make an appointment with her today by clicking below!

Make an SBDC Appointment with Judith Collins


Also, what is the “new” normal? The questions of the year! Join us for the Garland Chamber’s next FREE BOLD Speaker Series 2.0 webinar on Tuesday, May 26 at 8 a.m. Monica Narvaez, a labor and employment lawyer, will talk about business in the “new” normal and what to consider for your employees as you come back to work. Register below!

More Details  Register 

$484 Billion in Small Business and Hospital Aid

Information gathered from the Wall Street Journal. Updated as of April 24, 2020.


On Thursday, April 23, 2020, the House approved the $484 billion bill to aid small businesses and hospitals. It is said that President Trump will sign the new bill today, April 24 at noon.

This bill is to cover the second wave of PPP and EIDL loans for small businesses. There will be $310 billion allocated to PPP (Paycheck Protection Program loans), in which the initial stimulus bill included $349 billion, and those funds were depleted last week.

About $60 billion will go towards EIDL loans (Economic Injury Disaster Loans) administered by the SBA (Small Business Administration).

The bill will also provide $75 billion to hospitals and healthcare provides who face gaps created by a slowdown in elective surgeries and the surge of patients sick with COVID-19. They also allocated $25 billion to accelerate testing across the country.


Have questions about the PPP and EIDL loans? We are here to answer those questions.

1. Do I have to reapply?

A: No, if you successfully applied for the EIDL loans and your bank submitted your PPP application, you are in the queue. Now, if you applied for the EIDL loans in March (before the stimulus package was passed) you should have received an email from the SBA asking for more documentation. If you didn’t submit those documents, please do so and your application will be complete. You would only receive an email if you were missing documentation. If you were approved right away, you will have an automatic confirmation number. If you didn’t receive a confirmation number and no documentation email, then you are in the queue. For the PPP loans, talk with your bank. They will let you know the status of your application.

2.Is there a way to check the status of the applications: both EIDL and PPP?

A: Yes, for the PPP loans, contact the bank you applied through. For the EIDL, there is a customer service number you can call to check status: 1800-659-2955.

3. Can you apply for the loans even though I’m a sole proprietor/contractor?

A: Yes, for the PPP, the net earnings need to be positive. For the EIDL, use the 2019 taxes. If you have not submitted your taxes, calculate line 31 to add to the application. For questions, contact your bank for PPP, or contact Judith Collins with SBDC for EIDL loans.


The Office of the Governor recorded a webinar answering questions for the loans and unemployment. Click below to listen to the hour-webinar.

Click on Watch on Web, then click Join Anonymously to watch.

Small Business Administration Economic Injury Loan Program

UPDATE: March 23, 2020

  • The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.
  • Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available to small businesses and private, non-profit organizations in designated areas of a state or territory to help alleviate economic injury caused by the Coronavirus (COVID-19).
  • SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to submit the request for Economic Injury Disaster Loan assistance. Texas code is: TX-00544
  • Once a declaration is made for designated areas within a state, the information on the application process for Economic Injury Disaster Loan assistance will be made available to all affected communities.
  • These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.
  • SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
There is no FEMA Code applicable to this loan. Leave that area empty and proceed with the application process.

To apply for a SBA Loan, click here.

March 18, 2020
Please share your story of economic loss from the COVID-19 (coronavirus) with  the Small Business Administration as soon as possible.

In order for Texas businesses to become eligible for emergency, low-interest bridge loans from the SBA to help you pay immediate costs such as your mortgage and payroll, a business from each of Texas’ 254 counties needs to show the SBA it has been negatively affected by the COVID-19 (coronavirus).*
Additional information from the U.S. Small Business Administration about Economic Injury Disaster Loans can be found here.
Sending in this form will not financially obligate your business in any way. When the declaration is granted for the SBA emergency loan program, applicants will receive information on how to apply for their loan.
Sharing your story is the next step in this very long process. These are unprecedented times for all of us - information, questions, and uncertainty will continue to remain in our day to day routine on the road ahead. Please don't hesitate to contact me with questions, concerns, and frustrations.

Courtesy of Letecia McNatt, Downtown Development Office, City of Garland

*It is all based on how many businesses submit a declaration. If there is not declaration, there will be no funds available for the county. Courtesy of Dallas Metropolitan SBDC

Find more small businesses resources on the Garland Chamber website!
Small Businesses Resources

Resources are updated daily. If you have information the Garland Chamber can add to the website, please contact Andrea Tamez.

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