Two employees from Gusto customer American Canning

Loan forgiveness for small businesses

Apply now for the Paycheck Protection Program (PPP) loan.

Two employees from Gusto customer American Canning

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.

1

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.

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
3

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

BlueVine

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.

Apply now
Biz2Credit

Biz2Credit

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.

Apply now
Funding Circle

Funding Circle

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.

Apply now
ACAP / The Loan Source

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.

Apply now
Blue Ridge Bank

Blue Ridge Bank

In the first round of PPP, Blue Ridge Bank helped approximately 2,200 small businesses receive over $361 million in relief affecting over 35,000 jobs. Blue Ridge Bank is excited to work with new and existing borrowers during the PPP Second Draw.

Apply now

Questions? Here’s a breakdown.

The financial options that appear on this site are from companies from which Gusto receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Gusto strives to provide a wide array of offers for our members, but these options do not represent all financial services companies that are offering PPP.

All images and trademarks are the property of their respective owners. Any personal views, analysis, reviews, or recommendations expressed are the author's alone, and do not necessarily reflect the viewpoint of Gusto. Any editorial content has not been approved, provided, reviewed, or otherwise endorsed by any of the referenced companies providing financial products or services.

While Gusto always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms – and before applying you should review and understand the full terms and conditions as stated by the issuer. The information about these financial products or services is presented without warranty and the estimated dollar amounts or other terms presented do not bind any lender. All loans may be subject to review and approval.