April 6, 2020 - NFP CARES Act Webinar CARES Act Webinar - NFP - Final | Page 6

PAYCHECK PROTECTION PROGRAM
(PPP)
 Paycheck Protection Program is a modification of the
SBA’s 7(a) loan program, banks make loans to
businesses that are guaranteed by SBA
 New guidance – PPPL interest rates 1.0%.
 Not more than 25% of the forgiven amount may be for
non-payroll costs.
 Unforgiven loan amount repayment term – 2 years
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