Paycheck Protection Program

The Economic Aid Act

The Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act is a $325 billion aid package providing additional assistance to the hardest-hit small businesses, nonprofits, and venues struggling to recover from the impact of the COVID-19 pandemic.

The act provides funding for a second round of forgivable loans through the Paycheck Protection Program for small businesses and nonprofits experiencing significant revenue losses. We’re calling the second wave PPP 2.0.

PPP 2.0 includes other improvements, like grants to shuttered venues and emergency enhancements to other U.S. Small Business Administration lending programs.

What To Do

Utah small business owners and nonprofits will be required to submit financial documentation and prove a revenue loss due to the coronavirus pandemic.

Teams at the organizations listed below are standing by to provide assistance, answer questions, and help with non-English-speaking resources.

Where To Get Help

Your Existing Bank

If you have an existing banking relationship, check with that bank to see if they are participating in the Paycheck Protection Program.  If so, they can help you understand the program and get an application started as soon as possible.

Utah SBA Office

Business owners and nonprofit organizations should subscribe to the SBA Utah District Office newsletter and follow them on Twitter to receive the latest information on the new programs. The Utah SBA office will provide real-time updates and information.

You may also contact the Utah District Office at (801) 524-3209 or by email at

Rapid Response Team

If you need assistance to understand and apply for a PPP or Disaster Loan, you can reach out to Utah’s COVID-19 Rapid Response Team. The team is trained to provide assistance to business owners, including sole proprietors and independent contractors, as they prepare for and navigate the new PPP application process. They can also provide referrals for professional services that can assist companies as they prepare their financials for a loan.

Contact the Rapid Response Team:


Utah Bankers Association

The Utah Bankers Association website provides links to Utah banks participating in the PPP assistance program.

Many national banks are also participating. Contact your banker to learn more.

PPP Webinar
GOED, the Utah SBA District Office, and World Trade Center Utah delivered a 30-minute webinar on Jan. 11 with information and directions for companies and nonprofits interested in the new PPP. The PPP webinar is available on GOED’s YouTube channel.

Watch on YouTube

Independent Contractors

Independent contractors/self-employed may apply for both PPP and Pandemic Unemployment Assistance. However, they must be aware of how a PPP loan may impact eligibility for unemployment.

  • Pandemic Unemployment Assistance requires an individual to report weekly any earnings. If an independent contractor/self-employed individual uses a PPP loan to pay for their salary, then this will need to be reported as earnings when filing their weekly claim. This may result in the individual no longer being eligible for unemployment that week. 
  • Failure to report PPP loans being used for salary will result in an overpayment and the Unemployment Insurance Division will seek to recover those improper payments.

Pandemic Unemployment Assistance will require the independent contractor/self-employed individual to complete the weekly job searches in order to be eligible for the unemployment benefit.

  • If an independent contractor/self-employed individual has no intention of finding alternative employment, then a PPP loan may be a better alternative to assist until they are able to recover from the pandemic.
  • Unemployment insurance is meant to be a benefit to assist individuals unemployed at no fault of their own while they are attempting to find new employment. This is why independent contractors/self-employed individuals are still required to look for work.

If you are planning to apply for both, please be thorough in filling out the application and weekly claims accurately with all requested information to avoid overpayments.

  • If you use a PPP loan to pay for your salary, you must report it as part of your earnings on your weekly unemployment claim. 
  • This may result in not being eligible for the unemployment benefit but will prevent any potential overpayment and penalties.
  • The Unemployment Insurance Division will seek to recover overpayments and improper payments.

SBA Program Details

Paycheck Protection Program (PPP) Loans

Please contact your banker to see if they are participating

Eligible Expenses

Payroll expenses, mortgage interest payments, rent payments, utilities, supplier costs, worker protective equipment, building adaptations, and technology operation costs are eligible PPP expenses.

Eligible Applicants

Small businesses with 300 employees or less that have experienced a 25% or greater decrease in revenue between comparable quarters in 2019 and 2020, farm and ag-related businesses, tribal businesses, 501(c)(3) and 501(c)(6) nonprofits, veterans organizations, sole proprietors, independent contractors, self-employed individuals, local newspapers, local TV stations, and local radio stations.  There are special terms for businesses in the accommodations and food services industries.

Learn More

Economic Injury Disaster Loans (EIDL) and Advances

Economic Injury Disaster Loans are made directly by SBA’s Office of Disaster Assistance to eligible small businesses. Small businesses may also apply for grants up to $10,000, which are not required to be repaid.

Loan Uses

Pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the pandemic’s impact. Loan proceeds may not be used to refinance long-term debt.

Eligible Applicants

Most small businesses, agricultural enterprises and cooperatives, and private nonprofit organizations that have suffered, or likely to suffer, substantial economic injury because of the pandemic.

Learn More

Venue Operator Grants

Venue Operator Grants are made directly by SBA to eligible entities up to $10 million. The grants are not required to be repaid.

Eligible Entities

Live venue operators or promoters, theatrical producers, live performing arts organization operators, museum operators, motion picture theatre operators or talent representatives that were fully operational on Feb. 29, 2020, and have gross earned revenue loss of at least 25% from one quarter in 2020 as compared to 2019.

Eligible Use of Grant Proceeds

Payroll costs, rent, utilities, PPE and other ordinary and necessary business expenses.

Learn More

Subsidy Payments for Existing Loans

SBA will continue to make loan payments for small businesses that have eligible existing SBA loans. Check with your lender for more details.

Traditional SBA Lending Programs

SBA continues to offer its regular 7(a) SBA-guaranteed loan and its 504 loan programs.

Learn More