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SBA Form 2483 (3/21) Paycheck Protection Program. Borrower Application Form Revised March 18, 2021.
Paycheck Protection Program. Borrower Application Form. 1. SBA Form 2483 (04/20) ☐
While PPP loans were designed as a temporary and short-term relief from the economic decline due to the pandemic, SBA loans were created as a long-term financing solution. They have a more extended repayment or maturity term that can be up to 25 years, depending on the borrower's business sector.
PPP Specific Industries, Activities, and Other Factors: The following activities and industries make a business ineligible: illegal activity under federal, state, or local law; household employer (individuals who employ household employees such as nannies or housekeepers);