Michigan Paycheck Protection Program (MiPPP)

The Paycheck Protection Program (PPP) provides small businesses and other entities with zero-fee loans of up to $10 million. The main goal of this program is to help businesses retain their employees.

Program Highlights

  • Up to 8 weeks of average payroll and other costs will be forgiven if the business retains its employees and their salary levels
  • Principal and interest is deferred for up to a year and all borrower fees are waived
  • Loan amount is determined by the business’s average monthly payroll multiplied by 250%

What Businesses Are Eligible?

  • Been in operation since February 2020
  • Small businesses
  • VA
  • 501c3
  • Tribal businesses
  • Hospitality industry with less than 500 employees (includes restaurants)
  • SBA pre-approved business
  • Small business investment companies
  • Some churches/museums
  • Both public and private non-profits

Learn More and Apply

The application is live now! Visit the Michigan Paycheck Protection Program (MiPPP) website.