Paycheck Protection Program

TimePayment can help you get 2.5x your monthly payroll (up to $10M) as a forgivable loan through our funding partners. Funds are limited so apply today.

What is the Paycheck Protection Program?

The Paycheck Protection Program is a specific type of federally guaranteed loan intended to keep America’s businesses going during the temporary turmoil of the global pandemic. The SBA will empower businesses to borrow money based on the average cost of their monthly payroll. The money can be used for payroll costs, employee benefits, insurance premiums, mortgage interest, rent, utilities and more.

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How Does the Paycheck Protection Program Work?

Who is Eligible?

  • Business must have been in operation as of February 15th, 2020.
  • Businesses must have paid salaries and payroll taxes or paid independent contractors.
  • Sole-proprietors, independent contractors, and other self-employed individuals are eligible.
  • Businesses with no more than 500 employees.
  • 501(c)(3) nonprofit, a 501(c)(19) veteran’s organization, or Tribal business described in section 31(b)(2)(C) of the Small Business Act with 500 or fewer employees are also eligible.
  • The program waives affiliation rules for businesses in the hospitality and restaurant industries, franchises that are approved on the SBA’s Franchise Directory, and small businesses that receive financing through Small Business Investment Company (SBIC).

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Paycheck Protection Program Loan Calculator

Were you in business February 15, 2020?
Are you a seasonal business?
What were your total payroll costs in the last 12 months?
What were your total payroll costs between Feb 15, 2019 and May 10, 2019? What were your total payroll costs between March 01, 2019 and June 30, 2019?
What were your total payroll costs between January 01, 2020 and February 29, 2020? * To be eligible, you must have been in business as of February 15, 2020

How much you may qualify for


Payroll costs include: employee salary, wages and commissions; payment of cash tips; payment of vacation; parental, family, medical or sick leave; allowance for dismissal or separation; payment required for group health benefits (including insurance premiums); payment of retirement benefits; or payment of state or local tax assessed on employee compensation; and sole proprietor income or independent contractor compensation not in excess of $100,000.

Payroll costs exclude: compensation of an individual person in excess of $100,000 (as prorated for the period); federal employment taxes imposed or withheld taxes; compensation to an employee whose principal residence is outside of the U.S.; qualified sick leave for which a credit is allowed under Section 7001 of the Families First Coronavirus Response Act; and qualified family leave wages for which a credit is allowed under Section 7001 of the Families First Coronavirus Response Act.”

* Example only; SBA or Lender will make final decision