WE ARE STRONGER TOGETHER
Notice: Paycheck Protection Program resumes January 11, 2021 at 9am ET
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.
PPP loans have an interest rate of 1%.
Loans issued prior to June 5 have a maturity of 2 years. Loans issued after June 5 have a maturity of 5 years.
Loan payments will be deferred for borrowers who apply for loan forgiveness until SBA remits the borrower's loan forgiveness amount to the lender. If a borrower does not apply for loan forgiveness, payments are deferred 10 months after the end of the covered period for the borrower’s loan forgiveness (either 8 weeks or 24 weeks).
No collateral or personal guarantees are required.
Neither the government nor lenders will charge small businesses any fees.
How To Apply
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.
If you wish to begin preparing your application, you can download the following PPP borrower application forms to see the information that will be requested from you when you apply with a lender:
Paycheck Protection Program First Draw Borrower Application Form (revised 01-08-21)
Governor Doug Ducey and the State of Arizona are taking important measures to prioritize the health and safety of its residents. Greater Yuma is also taking the necessary steps to protect our community. Businesses throughout the state are adhering closely to the latest guidance from the Centers for Disease Control and Prevention and the Arizona Department of Health Services.
Local Yuma community partners have gathered a wide variety of resources to support businesses and employees as they help combat the spread of COVID-19. This site will be updated as new information becomes available.
Click on the links below to find out more information and what resources are available to help businesses and individuals through this stressful time. Also check out the Blog Page for more updated information including tips, checklists, and free webinars.
On June 27, Governor Ducey issued Executive Order 2020-43 “Pausing of Arizona’s Reopening.” This paused the reopening of several specific industries with operations that are considered by public health to have a high-risk of spreading COVID-19, specifically gyms and fitness centers, bars and nightclubs, waterparks and tubing, and movie theaters. It also limited indoor and outdoor gatherings to no more than 50 people. Since this pause, Arizona has seen a decline in its percent positivity, an increase in hospital capacity, and an improvement in other indicators. On July 23, that order was extended, with a review every two weeks.
Together we will stay strong.
Learning & Live
Julie Engel, CEcD
Chief Economic Architect
Greater Yuma EDC
899 Plaza Circle Drive, Suite 2
Yuma AZ, 85365
John Courtis, Executive Director
Yuma County Chamber of Commerce email@example.com