The Small Business Administration is no longer accepting Paycheck Protection Program (PPP) Loan applications from most lenders, including American AgCredit. The current round of PPP funding had been set to expire on May 31, 2021.
Going forward, the SBA will only accept new applications from community financial institutions. The SBA will continue to fund approved PPP applications that are in progress from other lenders but will not accept any new applicants.
Please visit the Small Business Administration’s PPP web page for the latest information: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
PPP LOAN CALCULATION FOR FIRST DRAW
Given you have not had a PPP loan in the past, you may be eligible for a First Draw Loan. In order to help you prepare for the application, we have designed spreadsheets that are specific to your business. These spreadsheets will guide you through the information that you will need in order to properly fill out the application.
Please Note: As part of the application process you will need to upload the completed spreadsheet as well as the documents that you gathered in order to successfully complete the application. One of the documents you will be asked to upload will be used to verify the fact that you were in business on Feb 15, 2020. The following are examples of what documents you can use to verify you were in business.
- 1st quarter payroll summary (for businesses with employees)
- Bank statement or invoices (for business without employees)
Please download and complete the correct calculation spreadsheet for your business from the options listed below. For additional support, please see the Application Guides available under the bulleted calculator you wish to work off of.
If you already have an application in progress, please remember to log in using the same ID and password you created. Please do not start a new application.