The deadline to apply for the Paycheck Protection Program (PPP) has been extended to August 8, 2020.

The time is now! If you have not applied and are in need of a loan to cover your operating costs, please apply for the PPP today. Do not wait! These federal loans can be forgiven if businesses follow rules such as utilizing 60% of the loan for payroll costs as demonstrated in the graphic below

As of June 27, the remaining amount left to distribute equates to more than $134 billion. This includes $10 billion of PPP funding set aside for Community Development Financial Institutions (CDFIs). 

This extension will help America's Hispanic and Minority-owned small businesses affected by COVID-19 still seeking PPP loans.

The US Hispanic Chamber of Commece has partnered with Goldman Sachs and CDC Small Business Finance to streamline the PPP process for our small business members. Click here to apply through CDC Small Business Finance today.

For more information the USHCC and Goldman Sachs had proviced a bilingual webinar on the Paycheck Protection Program. To access the video, enter the case-sensitive audience passcode: GS10KSB.

The PPP was created in March through the Coronavirus Aid, Relief, and Economic Security (CARES) Act and has been modified twice since its passage to adjust to the needs of America’s more than 30 million small businesses. The USHCC proudly represents more than 4.7 million Hispanic Business Enterprises (HBEs). 

The PPP loans have provided a lifeline for more than 4 million businesses who have already been approved for PPP funding. 

We must continue to work towards ensuring that Hispanic and Minority-owned businesses have equitable access to economic relief as we recover from the COVID-19 crisis.