- The business must have 500 or fewer employees
- In business or before February 15, 2020
- Employed staff that they paid salaries for or that paid independent contractors.
- All the major bank also requires that he business had a Business Checking account as of February 15, 2020 and utilize the online banking feature for the application process.
April 4, 2020 7:00 PM EST Three out of the four major US banks have stated some type of process to start processing the Small Business Administration (SBA) Paycheck Protection Plan (PPP). The program makes available $350 Billion to small businesses under the recently enacted $2.2 Trillion Coronavirus Stimulus Bill. Qualifications for applying include: