Loan forgiveness for small businesses
Apply now for the Paycheck Protection Program (PPP) loan.
See a list of lenders participating in this round of PPP on the Gusto blog. You don’t need to be a Gusto customer to get a 100% forgivable loan.
What is the Paycheck Protection Program?
The Paycheck Protection Program was established in April 2020 under the CARES Act to help small businesses navigate COVID-19 by offering forgivable loans. As long as the loan is put only towards eligible payroll and business expenses, it does not need to be repaid.
Get 2.5x your monthly payroll, up to $10 million
Follow rules to get loan forgiveness
Cover paychecks for re-hired employees
Apply now before funds run out.
Review rules and eligibility.
Almost all small businesses qualify. But your loan will only be forgiven for the covered period if you make sure:
- At least 60% covers payroll costs (including benefits)
- No more than 40% covers existing rent, utilities, mortgage interest, and other eligible expenses
See detailed eligibility rules for PPP Round 2.
Gather your payroll information.
You’ll need documentation that proves your average monthly payroll.
Gusto customers can fast-track this process. Sign in to calculate your total loan and download your payroll report.Sign in to your Gusto account
Apply through a lender.
The government requires you to apply for this loan through an approved lender.
We’re partnering with lenders ready and able to serve your business so you can get started.
Apply through one of
Gusto's lending partners.
BlueVine provides a fast online application for the Paycheck Protection Program for both first-time and second-draw applicants, even if you’ve previously received a PPP loan elsewhere.
Biz2Credit is a direct funding provider for the Paycheck Protection Program and focuses on funding what's next for their customers. They've provided over $3 billion in small business loans and financing since 2007 on their fast and easy funding platform.
Funding Circle has been a leader in small business lending over the past decade and originated billions of dollars of small business loans along the way. In April 2020, they were approved as a PPP lender by the SBA and are keen to once again support small businesses with this latest PPP round. They do not lend PPP loans in DC, NV and TN, but they do have a partner who can help you in these states.
ACAP / The Loan Source
ACAP was created exclusively for PPP loans. As an SBA-approved non-bank service partner, ACAP is committed to providing white-glove service for its borrowers. ACAP’s application portal is accessible online and available to small businesses nationwide. ACAP currently services $4.7 billion PPP loans across 35,000 borrowers.
Questions? Here’s a breakdown.
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