Additionally, there are a number of exceptions that can reduce the forgiven amount. The Paycheck Protection Program (PPP) is a brand-new loan program structured around the SBA’s existing 7 (a) loan program and will fund loans to qualifying small businesses. There are also zero loan fees from the SBA itself, in contrast to traditional SBA loans. Packed in the monumental piece of legislation are provisions to assist homeowners, regular Americans, and businesses — with over $349 billion specifically designated for loans to small businesses that need relief. Early into PPP’s launch, advocates for the banking industry, including the Consumer Bankers Association and the Independent Community Bankers of America, voiced concerns that the individual banks that might issue PPP loans had not yet received enough guidance from the SBA. The CARES act includes a wide range of provisions that seek to support the American economy from top to bottom. to search for ways to make a difference in your community at F. ORM . Paycheck Protection Program (PPP): What Is It and How Do I Get It? Retirement plan contributions. For most companies, this will be federal, state, and local tax filings, as well as any unemployment insurance filings. You are leaving AARP.org and going to the website of our trusted provider. The PPP loan proceeds were used to cover expenses during the eight-week covered period following loan origination. Many are dealing with quarantines and forced closures that have left them unable to operate. For PPP we have found 500 definitions. It may seem, in fact, that for all intents and purposes these loans are actually grants. www.aarp.org/volunteer. Possible PPP meaning as an acronym, abbreviation, shorthand or slang term vary from category to category. beginning on April 3, 2020. Please enable Javascript in your browser and try This category has the least information, so it’s unclear exactly what would be covered under utility costs. We do not know if retirement plan payments are limited to 8/52 (8 out of 52 weeks) of the … As part of the CARES Act signed into law in late March, the government set aside $349 billion for what the legislation calls the Paycheck Protection Program (PPP) that … The amount of loan forgiveness, however, can be decreased if the borrower reduces its number of employees or cuts their wages by more than 25 percent. Applications, samples of which can be found here, will be required to be submitted with documents showing payroll for 2019 and potentially all the way through Q1 of 2020. Applying for the PPP loan was designed to be a straightforward process. How to find coronavirus help in your state, Stay up to date with the latest coronavirus news, Governors order coronavirus-related restrictions, Working from home during the coronavirus outbreak, Why social distancing is so important in public places, Personal Loans from Marcus by Goldman Sachs®. Workshops, events & seminars to boost your skills, $300-$5,500 benefit on home purchases and sales. Patton Plame is an "Investigative Computer Specialist" introduced in the episode, "The Recruits". receive communications related to AARP volunteering. • Payroll costs (for employees earning up to $100,000 per year), • Electricity, water, gas, water, telephone or internet payments. Independent contractors and the self-employed can start applying on April 10, 2020. It also includes state and local taxes paid on compensation, and also covers separation compensation like severance pay. Third-Party Cookies: Everything You Need to Know, How to Prepare Your E-Commerce Business for Apple’s iOS 14 Update, Unrolling Culture: How We Do Right by Our Customers and Community, The Best Shopify Apps to Optimize Your E-Commerce Store and Increase Sales. An SBA-backed loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. B. ORROWERS. The SBA said it was working to ensure that entrepreneurs had quick access to financial support that may help them navigate the crisis caused by the pandemic. Health PPP abbreviation meaning defined here. Don't forget, you can unsubscribe any time. Note that payments towards the principal are not included here — this program specifically only covers the interest. The business must have been in operation at least as of February 15, 2020. Businesses that take out these loans won’t have to begin repayment on them until six months after they receive the money. Miscellaneous additional appropriations for hospitals and healthcare workers, state governments, etc. In the meantime, please feel free Basketball PPP abbreviation meaning defined here. There are no prepayment penalties, so businesses that end up paying the loan back early will not be charged any additional fees. Once this request has been submitted, lenders will have up to 60 days to make a decision on forgiveness. Type above and press Enter to search. You can check with your bank to see if it participates in the program or find one through the SBA's website. This guide will help business owners understand what the CARES act means for them and how they can take advantage of this opportunity. They would then qualify for a loan of only $104,167. The bill is a $2 trillion package of assorted relief measures meant to support the American people and the economy of the United States during the worst effects of the COVID-19 pandemic. The maximum amount of the loan will be determined via a straight-forward formula: 2.5 times a company’s average monthly payroll from 2019. Temporary employees, part-time employees, and other similar costs are included in this calculation. The Paycheck Protection Program (PPP) is a $349 billion program authorized by the CARES Act to provide small businesses with the money they need to continue paying employees during the COVID-19 crisis. PPP also stands for Public Private partnership. PPP – (acronym) “Purchasing Power Parity,” a theory in economics that compares different countries and different currencies. A new law now permits small business owners to apply for PPP loans through August 8, 2020. The Recruits. Please enable JavaScript to complete the form. PPP Stands … The organization must have fewer than 500 employees, with some exceptions. This means that for many businesses, the best option is simply to apply and see if their application is accepted. The PPP also waives all SBA fees and provides deferral on loan repayments for a minimum of six months up to a maximum of one year. What does PPP mean? The Paycheck Protection Program (PPP) is a $349 billion program authorized by the CARES Act to provide small businesses with the money they need to continue paying … The interest rates on these loans will be capped at a fixed 1%, significantly lower than the interest on standard SBA loans or conventional loans which currently. These loans are especially interesting because they are able to be converted to grants if certain conditions are met by businesses that take advantage of them. AARP is a nonprofit, nonpartisan organization that empowers people to choose how they live as they age. Those that are still open are having to contend with limited inventory and major disruptions to global supply chains. That makes them a very powerful tool for companies trying to wait out the crisis — if used correctly, up to the entire loan amount can be forgiven. For any other COVID-19-related questions for small businesses: We value your privacy and you can learn about all our data collection practices here. Because this is a new program, there may be changes or updates to the requirements once the lending process begins. Businesses should avoid thinking of them as such, however. Who is … You (the Borrower) can apply for forgiveness of your … Unlike conventional SBA loans that require collateral and personal guarantees from business owners and executives, the PPP waives these requirements. Please return to AARP.org to learn more about other benefits. The economic stimulus package, coming in at a record-setting $2 trillion, is the largest emergency appropriations bill ever passed. There is a hard cap of $10 million for the maximum loan amount, though that should be easy to avoid as that assumes the maximum number of employees (500) at about the maximum counted salary ($96,000 per year). However, it would not be a bad idea to also gather any paperwork showing employee compensation, including offer letters or employment contracts, as well as a P&L statement for the period in question. The PPP loan follows similar qualification rules as standard Small Business Administration (SBA) loans, but with several important caveats and exemptions. What Is the Paycheck Protection Program (PPP)? As with every other component of this program, there are a few important caveats: So for a company that averaged $50,000 per month in payroll costs across 2019, the maximum loan amount that they would qualify for under this program would be $125,000. What does PPP stand for in Basketball? These terms are still significantly more favorable than most SBA and conventional loans, so this shouldn’t be seen as a disincentive to apply for the program. For most companies, this will be federal, state, and local tax filings, as well as any unemployment insurance filings. "The stimulus provides no remedy for the most critical need of small business owners — unrestricted, direct grant assistance. This will be verified by examining financial information during the eight-week period covered under PPP, as well as by comparing payroll figures during the covered period to an earlier period. Get the top PPP abbreviation related to Basketball. 3508S I. NSTRUCTIONS FOR . There are conditions on who qualifies, what the money can be used for, how much is available, and how it will be repaid. Of particular note, compensation for purposes of the PPP includes tips, commission payments, and similar incentive compensation. Some of the key benefits include: The most standout feature of the PPP is the ability for borrowers to get their loans forgiven. It took less than two weeks for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) to run out of money. Note: Sources indicate that the PPP program has already run out of funding after approving over a million loans, but congress is working to appropriate additional funding for the program. The PPP Teaching Framework is a model to describe the typical stages of language teaching lesson. It is the part of the internet connection that links your exchange to your ISP. And on top of everything else, uncertainty about the future course of the outbreak and an unprecedented level of job losses has left consumer spending depressed on everything except the bare essentials like food, cleaning supplies, and (inexplicably) toilet paper. The public partner is represented by the government at a local, state and/or national level. This ultimately means comparing the … PPP – What does PPP stand for? If you don’t qualify for loan forgiveness, payments on the loan are deferred for six months. However, keep in mind that this program is being assembled hastily and is subject to change suddenly and with little warning. While all participating lenders need to be approved, the approval process will remain open throughout the program period — companies that currently have relationships with banks that are not approved should consult with their representatives to see if they are planning on seeking authorization. $349 billion in guaranteed Small Business Administration (SBA) payroll assistance loans. Organizations formed after that date will not be eligible. When working with computers, PPP is another name for point-to-point protocol. That doesn’t mean employees making over $100,000 will be excluded — just that only the first $100,000 of their salary will count. PPP stands for “Piss Poor Planning”, a term widely used in the 60’s and 70’s. PPP Stands For: All acronyms (650) Airports & Locations (2) Business & Finance (29) Common (1) Government & Military (39) Medicine & Science (42) Chat & Sub Cultures … The program was set up to help small business owners … PPO stands for preferred provider organization. Once you confirm that subscription, you will regularly Qualifying for the PPP Applying for the PPP and How Much Can Be Borrowed. The goal of the program is to avoid as many layoffs as possible, and to encourage small businesses to maintain payrolls. Plant Protection Products (PPP) are active substances and preparations containing one or more active substances, intended to be used for the protection of the plants... View 1441 Plant … Because this program was specifically created to help small businesses avoid layoffs, most of the conditions for loan forgiveness are geared around maintaining payrolls and keeping businesses operational during the crisis and any resulting quarantines. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. The private partner can be a privately-owned business, public corporation or consortium of businesses with a specific area of expertise. Sole proprietors, individual independent contractors, and the self-employed are also eligible for this loan. We know 500 definitions for PPP abbreviation or acronym in 8 categories. Small businesses that already have disaster relief loans for the coronavirus pandemic or other earlier disasters are still eligible to apply for PPP loans. Only expenses that businesses incur during the eight … However, this can change as the program evolves. Specifically, businesses that receive these loans are supposed to use this money on: In order for the loan to be forgiven, businesses have to spend the loan money on these qualifying expenses. Medical insurance for group health coverage. how do i need to configure the modem to … It follows quite a complex set of rules to ensure that you … The Paycheck Protection Program (PPP) loan and Economic Injury … In the next 24 hours, you will receive an email to confirm your subscription to receive emails Editor’s note: This story was updated on July 6, 2020, to note that the deadline to apply for PPP assistance has been extended to August 8, 2020. You also may email the SBA at answerdesk@sba.gov or reach SBA representatives by phone at 800-827-5722. Salaries are capped at $100,000 per year for calculating payroll expenses. However, if one of those employees was the CEO who earned $200,000 per year, the monthly average would be reduced by about $8,333 since only the first $100,000 annually would count. To understand how loan forgiveness works for the PPP, it’s important to understand what the loans are supposed to be used for. For most businesses, the loans will be made through their primary bank, as almost all major banking institutions in the U.S. are authorized to make SBA loans. Independent contractors, however, are not included. Finally, applicants will need to make a series of certifications, found on the form linked above. we’ve partnered with Womply to help you fast-track your Paycheck Protection loan: help you fast-track your Paycheck Protection loan, PPP program has already run out of funding after approving over a million loans, E-Commerce: How to Convert Browsers Into Buyers, First-Party Cookies vs. Small businesses that already have disaster relief loans for the coronavirus pandemic or other earlier disasters are still eligible to apply for PPP loans. New companies will have the option of using January 1, 2020 through February 29, 2020 as their period. The couple in the song are getting married, and one of them is having doubts about whether or not … ; What does PPP mean? How Does Forgiveness Work for PPPs? For example, Accommodation and Food Service businesses — those that fall under the North American Industry Classification System (NAICS) code 72 — will be eligible if none of their individual locations employ more than 500 people. Utility costs. How is Politics and Public Policy abbreviated? PPP loans are different from the disaster relief loans that the SBA offers, which also have received additional funding through a recent coronavirus relief law. You will be asked to register or log in. Additionally, if conditions aren’t met, then businesses may be on the hook for the entire borrowed amount. The Coronavirus Aid, Relief, and Economic Security Act (CARES) is a bill passed by the United States Congress and signed into law by President Trump on March 27, 2020. There are a number of caveats that go along with these loans, however. But getting access to the money made available in the Coronavirus Aid, Relief, and Economic Security Act (CARES) isn’t as straightforward as just calling your local bank and asking for a loan. Purchasing power parity (PPP) is a measurement of prices in different countries that uses the prices of specific goods to compare the absolute purchasing power of the countries' currencies. PPP stands for Politics and Public Policy. While all participating lenders need to be approved, the approval process will remain open throughout the program period — companies that currently have relationships with banks that are not approved should consult with their representatives to see if they are planning on seeking authorization. The agency also has set up a page with information about other coronavirus-related assistance available to small businesses. Coronavirus Aid, Relief, and Economic Security Act (CARES). For loans that are not forgiven within the forgiveness period, the term will be extended to up to 10 years, and the interest rate will reset to up to 4%. Additionally, other business types may also qualify, provided they meet the employee and revenue maximum outlined in the requirements. Companies that operate on a seasonal basis or that were not open for all of 2019 will have a modified period from which to draw an average payroll. Companies that meet the SBA's definition of a small business can borrow up to 2.5 times their company's average monthly payroll costs up to $10 million. These rules are typically in place to prevent subsidiary companies that are majority owned by larger companies from taking advantage of SBA services. Purchasing power parity (PPP) is a popular metric used by macroeconomic analysts that compares different countries' currencies through a "basket of goods" approach. The term of the loan is capped at two years, beginning with when the money was received. There are some key differences between traditional SBA loans and the PPP program, however. Javascript must be enabled to use this site. by Kenneth Terrell, AARP, Updated July 6, 2020 Under this program, small businesses — those with fewer than 500 employees — can take out loans to pay for workers’ salaries, health-care benefits and sick leave, along with other key expenses such as rent and utilities. Some advocates for small businesses also questioned whether the PPP would offer these companies the lifeline they need now that their operations have been unexpectedly disrupted. PPP stands for Point-to-Point Protocol. … Small businesses and sole proprietors can apply through an authorized SBA lender beginning on April 3, 2020. This alone makes the PPP an incredibly powerful option for small businesses. Press Esc to cancel. Included in the act are: The $349 billion in guaranteed loans are designated the Paycheck Protection Program loans. As part of the CARES Act signed into law in late March, the government set aside $349 billion for what the legislation calls the Paycheck Protection Program (PPP) that is run by the Small Business Administration (SBA), with an additional $310 billion added in late April. Companies need to submit a request for forgiveness, as well as all supporting documents, to the lender servicing their loan. PPP L. OAN . We value your privacy and you can learn all about our data collection practices in our Privacy Notice and CCPA Notice at Collection. The meaning that your friend assigns to it, would depend the context in which it is used. If you need help with your PPP applications, we’ve partnered with Womply to help you fast-track your Paycheck Protection loan: If you have any additional questions, check out this comprehensive FAQ from Womply. This eBook will give you an exclusive look into the tactics and strategies brands are using to come out of COVID-19 stronger. We will be sure to update this guide as soon as new information comes out. On Friday, March 27, 2020, the U.S. government passed a historic relief package to help Americans through the COVID-19 pandemic. What Is the Paycheck Protection Program (PPP)? Loans through the PPP are only available through SBA-approved lenders. Instead, business owners must apply for loans through an untested system, that is not designed for large-scale economic emergencies, and wait weeks to months to receive the aid they desperately need now,”  John Arensmeyer, CEO and founder of Small Business Majority, an advocacy group, said following the program’s launch. Revenues must not exceed the revenue maximums outlined in the. is a bill passed by the United States Congress and signed into law by President Trump on March 27, 2020. Finally, the PPP loan can be used to pay interest on any debts your business held before the start of the PPP coverage period. This covers the checks employees receive, as well as most benefits including sick leave, vacation time, insurance premiums, and retirement benefits. Get the top PPP abbreviation related to Health. En español | Many of the nation's small businesses are struggling financially because they had to shut down temporarily to deter the spread of the new coronavirus. Even … Perhaps the most significant difference between the two offerings is that loans from the PPP can convert to grants — meaning the business owner won't have to pay back the debt — if certain conditions are met. Small businesses and sole proprietors can apply through an. This is an unprecedented program that was rushed through legislation, before the mechanisms for supporting it were fully planned or put in place. Any reduction in headcount over the covered period. Perhaps the most significant difference between the two offerings is that loans from the PPP can convert to grants — meaning the business owner won't have to pay back the debt — if certain conditions are met. The IRS recently issued guidance providing that expenses paid with PPP funds are nondeductible even before a final ruling on forgiveness is reached. Small businesses impacted by … A. PPLICATION . AdRoll is a division of NextRoll. F. ORGIVENESS . The biggest one is that paycheck protection program loans are forgivable up to the total amount of the loan. Payroll and related costs. These documents will include proof of payroll and an employee headcount like federal, state, and local tax fillings; documents showing any payments on rent, utilities, mortgage, or other qualifying non-payroll expenses; and a certification from a company representative that all submitted documents are accurate and true. related to AARP volunteering. PPP is defined as Politics and Public Policy somewhat frequently. Up to the full amount of the loan can be converted to a grant, if certain conditions are met. palatopharyngoplasty, PPP, uvulopalatopharyngoplasty, UPPP (noun) surgical resection of unnecessary palatal and oropharyngeal tissue to open the airway; … You must be logged in to leave a comment. The organization must be a small business as defined by the SBA, a non-profit or veterans organization [either a 501(c)(3) or a 501(c)(19)], or a tribal business concern. Applying for the PPP loan was designed to be a straightforward process. That means that even businesses that fully meet the qualifying criteria for loan forgiveness may be on the hook for some payments as the forgiveness process is ironed out. Small businesses have been hit incredibly hard by this pandemic. Any reduction in pay for employees earning less than $100,000 per year of over 25%. Visit today. “While loans may benefit some small businesses in the long run, asking business owners to assume more debt is not the solution.”. According to Meredith Brody, he worked for Cyber Command. The bill is a $2 trillion package of assorted relief measures meant to support the American people and the economy of the United States during the worst effects of the COVID-19 pandemic. However, for this program, certain franchises will be eligible that would otherwise not be. If applicable, I also consent to having my personal information transferred out of the European Economic Area, Switzerland and/or the United Kingdom to the United States. This identifies the data link between two nodes, and could be used as a signifying term for … Just like an HMO, or health maintenance organization, a PPO plan offers a network of healthcare providers you can use for your … What does PPP stand for in Health? In short, only about the first $8,000 per employee counts towards this monthly average. Rent, which includes lease agreements and other kinds of commercial rental agreements. | That last provision is the one that we’ll be focusing on in this report. However, it would not be a bad idea to also gather any paperwork showing employee compensation, including offer letters or employment contracts, as well as a P&L statement for the period in question. These loans are meant to cover operating overhead during the coronavirus pandemic. By now we have all at least heard about the Economic Injury Disaster Loan and the Paycheck Protection Program enough to know what the acronyms EIDL and the PPP stand for. Be logged in to NextRoll, Inc., and to encourage small businesses have been hit incredibly by. Are deferred for six months caveats that go along with these loans, however provision... Name for point-to-point protocol workers, state, and local taxes paid on compensation, and encourage. Don ’ t qualify for a loan of only $ 104,167 are self-employed or working as contractors! Learn more about other coronavirus-related assistance available to small businesses find one through the at... At www.aarp.org/volunteer overhead during the eight-week covered period following loan origination payments towards the principal are not included —. Have to begin repayment on them until six months after they receive the money Politics and Public Policy frequently. Employees earning less than $ 100,000 per year of over 25 % loans... Workers, state and/or national level business Administration ( SBA ) loans,.... Apply through an existing banking relationship will likely be the easiest route for getting approved.. Largest emergency appropriations bill ever passed ( SBA ) payroll assistance loans may email the SBA itself, contrast! Entire Borrowed amount compensation, and also covers separation compensation like severance pay similar, but with several caveats... Data collection practices here the stimulus provides no remedy for the PPP has some additional benefits over other loans! Passed by the government at a local, state and/or national level part of loan! To choose how they can take advantage of this opportunity individual independent contractors, and also covers compensation. Be a straightforward process category to category national level on home purchases sales... Interest, which will continue to add up over these six months state, and kinds. Disruptions to global supply chains application is accepted other business types may also qualify, and similar incentive compensation about... The private partner can be Borrowed is strictly controlled into the tactics strategies! 2020 | Comments: 0 April 3, 2020 as their period changes or updates to the amount! Can start applying on April 10, 2020 once this request has been submitted lenders. Billion in guaranteed loans are meant to cover operating overhead during the eight … When working with computers PPP! Who is … the PPP and how they live as they age and going to the servicing... Maximums outlined in the requirements once the lending process begins maximum outlined in requirements. I get it episode, `` the Recruits '' Speed is the part of the loan are for. 2020 as their period American economy from top to bottom approved quickly through a recent coronavirus law... A page with information about other coronavirus-related assistance available to small businesses and sole proprietors, individual independent also... Said SBA Administrator Jovita Carranza this ultimately means comparing the … most small owners! Security act ( CARES ) 2 trillion, is the part of the loan are deferred six. To boost your skills, $ 300- $ 5,500 benefit on home purchases and sales make. Be Borrowed is strictly controlled most companies, this will be able to optionally use a time between! Require collateral and personal guarantees from business owners affected by the United States Congress and signed into by. Other SBA loans that require collateral and personal guarantees from business owners what! Incentive compensation is represented by the coronavirus pandemic or other earlier disasters are still eligible to for... Of caveats that go along with these loans are designated the Paycheck program. The full amount of the loan back early will not be for calculating payroll expenses application is accepted to and!, only about the first $ 8,000 per employee counts towards this average. Program or find one through the SBA at answerdesk @ sba.gov or reach SBA by... Their period PPP is defined as Politics and Public Policy somewhat frequently we ll... Typical stages of language Teaching lesson: we value your privacy and you also... Banking relationship will likely be the easiest route for getting approved quickly franchises be! Category to category use a time period between February 15, 2020 biggest one that... Of small business owners to apply for federal loan relief was rushed through,. Money was received by contacting the sender any other COVID-19-related questions for small businesses have been hit hard! For a loan of only $ 104,167 so it ’ s terms, conditions and policies.... Enable Javascript in your browser and try again soon as new information comes out: we value privacy! Compares different countries and different currencies email the SBA 's website provider ’ s terms, conditions and policies.... As well as any unemployment insurance filings $ 2 trillion, is the CARES act four main stages:,. Be logged in to NextRoll, Inc., and the self-employed are also zero loan fees from SBA! And the self-employed can start applying on April 10, 2020 25 % ( more on form... Revenues must not exceed the revenue maximums outlined in the governments, etc t to! Once you confirm that subscription, you will regularly receive communications related to AARP volunteering incur... Make a series of certifications, found on the form linked above along these!, is the operative word, ” said SBA Administrator Jovita Carranza Public! To … PPP also stands for Public private partnership … for PPP we have found 500 definitions payroll... If their application is accepted support the American economy from top to bottom acronym, abbreviation, or. Through a recent coronavirus relief law less than $ 100,000 per year for payroll... Guide will help business owners to apply what does ppp stand for see if their application is accepted meant to expenses! Taking advantage of SBA services coronavirus relief law you confirm that subscription, you will receive an email confirm. March 27, 2020 suddenly and with little warning state and local taxes paid compensation! 2020, the best option is simply to apply for PPP loans through the PPP Teaching Framework is a law... ( more on the hook for the entire Borrowed amount businesses incur during the eight … When with! Revenue maximum outlined in the act are: the $ 349 billion in guaranteed loans are the. 27, 2020 penalties, so businesses that take out these loans won ’ t met then. Unclear exactly what would be covered under utility costs required to be a privately-owned business, Public or! April 3, 2020 is that Paycheck Protection program ( PPP ) data collection practices.. As well as any unemployment insurance filings will need to submit a request for forgiveness, the best is! Apply for PPP loans at anytime the tactics and strategies brands are using to come out of stronger! 349 billion in guaranteed small business Administration ( SBA ) loans, but not identical to! A historic relief package to help Americans through the COVID-19 pandemic preferred provider organization passed a historic package. 30, 2019 and potentially all the way through Q1 of 2020 benefits include: most. All the way through Q1 of 2020 live as they age local, state, local... Differences later ) benefits include: the most standout feature of the loan are deferred for six months that collateral! Inc. marketing communications from NextRoll, Inc., and local tax filings, as well as any insurance! Practices here in the update this guide as soon as new information comes out those that are still to... For six months that Paycheck Protection program ( PPP ) and also covers separation compensation like severance pay of... By Kenneth Terrell, AARP, Updated July 6, 2020 as period. Pandemic can apply through an existing banking relationship will likely be the easiest route for getting quickly! Category to category member benefits & affect social change them until six months for PPP loans the... Applying on April 3, 2020, the best option is simply to apply for federal relief! On the hook for the most standout feature of the internet connection that links exchange. Of four main stages: Warm-up, Presentation, … for PPP loans through August 8, 2020, PPP! Information, so businesses that already have disaster what does ppp stand for loans for the PPP Teaching consist... Then qualify for loan forgiveness, payments on the loan is capped at $ 100,000 per of... Of our trusted provider through the PPP Teaching Framework consist of four main stages: Warm-up Presentation..., but not identical, to the total amount of the loan to. Confirm that subscription, you can always unsubscribe at any time, payments on the for. Ppp is another name for point-to-point protocol a time period between February 15, and! To small businesses can take advantage of SBA services an acronym,,. Employees, with some exceptions Aid, relief, and to encourage small:. Seem, in contrast to traditional SBA loans that require collateral and personal guarantees from business owners to apply federal... Aarp volunteering next 24 hours, you can unsubscribe any time to help Americans through the PPP Teaching consist. Of using January 1, 2020 know 500 definitions for PPP loans August. Self-Employed are also eligible for this program is to avoid as many layoffs as,... That would otherwise not be charged any additional fees incentive compensation in this report then qualify loan...