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PPP Application Date vs. PPP Loan Origination Date

April 2, 2020

Currently the PPP loan is for an 8-week period sometime between Feb 15 and June 30. This means the latest the loan origination date can be is May 5th, which makes the loan period May 5th-June 30th. It is important to note that the loan application date and origination date do not have to be the same, and you are able to apply starting April 3rd with an origination date as late as May 5th.

Understanding that there is a very clear end date to this loan, we are looking at opportunities for relief in Phase 4 of Congressional legislation that either extends PPP or provides support in meaningful ways. We will share more information as it becomes available, but in the meantime we encourage you to examine available SBA loans to determine what makes the most sense for you. Finally, as a reminder you are eligible to apply for a PPP and EIDL loan at the same time, but the two loans cannot be used for the same purpose. Meaning your EIDL loan cannot cover payroll for the same time period you are utilizing the PPP loan.