Dear Member,

Please read the important CAR update on the Paycheck Protection Program (PPP). As a reminder, please register in advance for MCAR's Property Management webinar.

The Paycheck Protection Program (PPP) reopened to first-time applications on Monday, but only for businesses applying at community financial institutions. Applicants who have already received a PPP loan will be able to apply at community financial institutions for a second-draw loan beginning today. The SBA has not yet announced when applications will open for businesses applying for PPP loans through other lenders. Additionally, today is the last day to apply for a California Small Business Relief Grant during the initial application window. The program will have a second window for applications, but the dates for that window have not been announced. For more information about both of these programs, see our FAQ on Small Business Administration Loans for Agents and FAQ on Small Business Administration Loans for Brokers.