3/30/21 Update: PPP Application Deadline Extended through May 31, 2021.
The President has signed the PPP Extension Act of 2021. This bill extends the original deadline for businesses and lenders to submit Paycheck Protection Program (PPP) loan applications to the Small Business Administration (SBA) from March 31, 2021, to May 31, 2021. This means there is still time for eligible businesses to apply for a PPP loan.
We remain committed to submitting as many qualifying applications to the SBA as possible. As of Monday, March 29, GCL has submitted over 1,750 successful PPP applications to the SBA for a total of over $106.6 million, $34.6 million of which has been allocated to Nevada businesses.
“These continue to be challenging times for businesses to navigate the re-opening process and recover from the economic damage caused by the pandemic. It is critical that this vital relief reaches owners fighting for both the livelihood of their businesses and the financial well-being of their employees.” - Wally Murray, President and CEO of Greater Nevada.
The extension also grants an additional 30 days to the SBA to process applications, meaning if your application has not been processed by the deadline of May 31, the SBA has another 30 days to do so. This bill carries all previous updates to the program from March 1 with it, including:
- New calculations of loan amounts for sole proprietors and contractors, likely resulting in higher potential loan amounts for these individuals.
- Restrictions for applicants with delinquent student loan debt are now waived.
- Restrictions for applicants with non-fraud-related felony convictions are waived.
- Some businesses owned by non-citizen residents are eligible.
There are still billions of dollars available in PPP funding for qualifying businesses impacted by the financial turmoil of the COVID-19 pandemic. Please take the time to review the information
on our website, and if you would like to submit an application, you may do so here
Click here or on the image to expand.
Important Notes Before Applying:
Greater Nevada will be delivering all aspects of the PPP program online. This means all information and correspondence will be through our website and email. This includes the application process below, submission of required documents, and all servicing follow-up.
Please review all information about the PPP through the following links:
- Applicants are encouraged to use Google Chrome for the application portal. Internet Explorer is not supported.
- PPP loans are approved on a first-come, first-served basis.
- Special attention to accuracy is paramount for a successful application process. Incomplete or incorrect applications will be denied, which may require changes to certifications in the application resulting in delays, or reapplying from the beginning.
- Be sure to include the front and back of your driver's license or state issued identification card.
- With the exception of the SBA decision, portal updates will only
be completed daily between 3:00PM - 5:30PM PST.
- The application portal will provide you the most up to date information on your application. Due to the high volume of applications, all inquiries about a loan status will redirect the applicant back to the application portal.
- We kindly ask that you please be patient. We are committed to helping as many qualified PPP loan applications get processed as possible.
Support for Existing Applications
At Greater Commercial Lending, we know the importance of prompt, accurate information about PPP loans and applications. Due to the high volume of interest in the program, we are only able to respond to individuals who have an active application. Click here to contact GCL's PPP Support Team.
What Happens After You Apply For a PPP Loan