Paycheck Protection Program

Paycheck Protection Program (PPP) is a loan designed by the US Govt, and implemented by the SBA, to provide a direct and immediate incentive for small businesses to keep their workers on the payroll, and thus avoid large scale job losses, because the SMBs create over 50% of the total jobs across America.

SBA will forgive loans if all employees are kept on the payroll for eight weeks, and the money is used for payroll, rent, mortgage interest, or utilities.

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.

Lenders may begin processing loan applications as soon as April 3, 2020.
The Paycheck Protection Program will be available through June 30, 2020.
Please check with your local lender whether it’s participating in the program.

Who Can Apply
The following entities affected by Coronavirus (COVID-19) may be eligible:

  • Any small business concern that meets SBA’s size standards (either the industry based sized standard or the alternative size standard)
  • Any business, 501(c)(3) Non-profit organization, 501(c)(19) Veterans organization, or Tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of: 500 employees, or that meets the SBA industry size standard if more than 500.
  • Any business with a NAICS Code that begins with 72 (Accommodations and Food Services) with more than one physical location, and employs less than 500 per location
  • Sole proprietors, Independent Contractors, and Self-employed persons.

Please see this page to learn more details. Thanks.

LWBJ, CPA in West Des Moines, IA

LWBJ is one of the Midwest’s leading CPA, business advisory and M&A firms. We deliver a broad range of tax, accounting, consulting and investment banking capabilities to serve businesses and individuals.
Our partners bring a wealth of Big Four experience to the table, as well as direct, hands-on involvement in all engagements. The entrepreneurial experience of partners and key staff enables us to understand and appreciate the issues facing small- and middle-market businesses and the individuals and families who own them. The continuity of our staff facilitates long, productive client relationships. And the depth of our in-house intellectual capital enables us to provide more timely, responsive client service.
By size, LWBJ ranks in the top one percent of CPA firms, nationwide, and has been honored as a G400 firm by the American Institute of Certified Public Accountants. Our G400 status facilitates direct communication and collaboration with accounting industry leaders and peers, thereby enhancing the services we provide to our clients.
Through the practical experience of our business advisory and investment banking teams, we are well positioned to help clients achieve their goals. We have advised on billions of dollars in transactions. We comfortably collaborate with attorneys, bankers, CPAs and other trusted client advisors. And we hold ourselves to the highest industry standards.
4200 University Avenue, Suite 410
West Des Moines, IA 50266
Phone: 515-222-5680
Fax: 515-222-5681