SBA announces end to Paycheck Protection Program

PPP Loan

PPP loans are no longer available, but other pandemic-related aid programs continue through the SBA

The Paycheck Protection Program (PPP), a federal initiative designed to keep employees on payrolls and blunt the disastrous economic effects of Covid-19, is no longer accepting applications. The PPP wraps up after providing $798 billion in economic aid to small businesses and nonprofits, the Small Business Administration (SBA) said in a news release.

In announcing the end of the PPP, an SBA-administered program, agency head Isabella Casillas Guzman said that aid dispensed through the program had helped more than 8.5 million small businesses and nonprofits all over the country. She conceded that “millions of underserved businesses – particularly our smallest businesses and those owned by women and people of color – were left out of early rounds of relief,” but said that was remedied. “I’m proud of the work we did to begin to rectify these inequities. In 2021, 96% of PPP loans went to small businesses with fewer than 20 employees. Moving forward, we will continue to prioritize equity in all SBA programs and services.”

The PPP, one of the earliest Covid-19 economic relief programs, provided forgivable loans to business owners – including franchisees – for continuing to keep wages flowing to millions of Americans and to preserve their jobs so the nation can recover more quickly from the economic toll of the pandemic. In its news release, the SBA said the program has supported the smallest of small businesses, with 32 percent of the forgivable paycheck loans benefiting low-income and moderate-income communities. PPP loans in 2021 averaged $42,000, another indicator of targeted relief to very small businesses, the SBA stated.

The PPP is one of several disaster relief programs established by Congress to help small businesses survive the Covid-19 pandemic and rebound afterward. Others include:

The Covid-19 Economic Injury Disaster Loan program (COVID-19 EIDL)

COVID-19 EIDL gives economic aid to small businesses and nonprofit organizations that are experiencing a temporary loss of revenue. Its purpose is to meet financial obligations and operating expenses that could have been met had the disaster not occurred.

The Restaurant Revitalization Fund (RRF)

The RRF allocating was created to give assistance to eligible restaurants, bars and other food-service businesses harmed by Covid-19. Many owners of franchise restaurants have been eligible for tax-free grants of up to $10 million through this $28.6 billion fund, which was created as part of the $1.9 trillion American Rescue Plan signed into law this past March. 

The Community Navigator Pilot Program

The Community Navigator Pilot Program offers networking, counseling and other help for the nation’s smallest businesses. This initiative, a competitive grant program established under this year’s American Rescue Plan, gives priority to businesses owned by women, veterans, and socially and economically disadvantaged people. 

The SBA Debt Relief Program

The SBA Debt Relief Program helps existing SBA loan borrowers who are having trouble paying back the money lent to them. As a part of the CARES Act, SBA is authorized to pay six months of principal, interest, and any associated fees that borrowers owe for all 7(a), 504, and Microloans reported in regular servicing status (excluding Paycheck Protection Program loans). 

The Shuttered Venue Operators Grant (SVOG)

SVOG is an emergency aid program for eligible venues affected by Covid-19. Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.

To learn more about SBA-administered relief programs, visit

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