Paycheck Protection Program: Round III
Round III of the Paycheck Protection Program (PPP) has been announced and begins this week. Additional detail can be found in this fact sheet, credited to the University of Tennessee Institute of Agriculture.
Round III is similar in most regards to earlier rounds of PPP. To apply for the PPP loan, contact your local community financial institution, participating SBA approved 7(a) lenders or any participating federally insured depository institution, federally insured credit union or Farm Credit System institution.
First-draw PPP applicants can apply with community financial institutions starting January 11. Second-draw PPP applicants can apply with community financial institutions starting January 13. PPP loans will be open to small businesses through all participating lenders up to March 31, 2021.