Are Funds Available For PPP? | Status, Options, Next Steps

PPP loans aren’t being issued anymore; what’s still open is forgiveness, review appeals, and cleanup steps for existing borrowers.

If you’re searching this because cash is tight, you’re not alone. The Paycheck Protection Program was built as an emergency lender-backed loan program during COVID-19. That loan window is closed now, so there’s no fresh pot of PPP money you can apply for today.

Still, “funds available” can mean a few different things. Some people mean new PPP loans. Others mean whether forgiveness is still possible, whether a denial can be challenged, or whether their lender can still process paperwork. This article walks through what’s open, what’s closed, and what you can do next without wasting hours chasing dead ends.

What “Funds Available” Means With PPP

PPP had two big phases: issuing loans, then cleaning up loans. The first phase ended when the application window closed. The second phase is still active for many borrowers because loans can stay on the books for years.

• New PPP loans: closed. You can’t apply for a new first-draw or second-draw PPP loan now.
• Forgiveness: open for eligible borrowers who already have a PPP loan and still need to apply.
• Reviews and disputes: open in certain cases, with strict deadlines and narrow rules.
• Repayment: still required for any part of a loan that isn’t forgiven.

The fastest way to confirm the program’s status is the SBA’s own PPP page, which states the program ended and shifts attention to forgiveness for existing borrowers. SBA Paycheck Protection Program page.

Are Funds Available For PPP? The Straight Answer On New Loans

No new PPP funds are available to apply for because the Paycheck Protection Program stopped accepting new applications on May 31, 2021. That end date matters because it clears up a common trap: shady sites still pitch “PPP applications” as if the program is live.

If a site asks you to pay a fee to “check availability” or “submit a PPP form,” treat that as a red flag. Real PPP lenders were banks and approved lenders, and the program’s intake window is closed. If you already have a PPP loan, you still have real options, just not a new loan.

Where PPP Money Still Matters: Forgiveness

For borrowers, the remaining “money” is forgiveness. Forgiveness turns some or all of your PPP loan into a non-taxable forgiven amount at the federal level when the rules are met and your application is approved.

There are two main paths to apply:

1. Through your lender (many lenders still accept applications).
2. Through the SBA’s direct portal (available for all borrowers as described on SBA’s forgiveness page).

The SBA’s PPP loan forgiveness page explains where to apply and notes the SBA direct forgiveness portal option. SBA PPP loan forgiveness.

What forgiveness still covers

Forgiveness is tied to how the loan proceeds were used during your covered period. The headline bucket was payroll costs, and eligible non-payroll costs were added over time. Your paperwork has to match the rule set tied to your loan, your covered period, and the forms you’re using.

When to apply

Many borrowers can apply as soon as their covered period ends. Waiting too long can trigger repayment start dates set in the program rules and your note. If you’ve been putting it off, set a short work session, gather your records, and push it through.

Using the SBA Direct Forgiveness Portal

If your lender participates, the SBA’s direct site can route your forgiveness request to the lender. If your lender doesn’t participate, you’ll apply through the lender instead.

Before you start, pull:

• Loan number and lender details
• Payroll records that match the covered period
• Receipts or statements for eligible non-payroll costs, if you’re claiming them
• Employee count and pay-rate records, if your loan size or form requires them

Common Reasons People Think PPP Funds Might Still Be Open

People see PPP pop up in search results and assume a new round is running. Most of the time, it’s one of these:

• A forgiveness reminder email from a lender
• News about fraud enforcement and audits
• Confusion with other SBA relief programs
• A local lender page that never got updated

Here’s the simple check: if someone is talking about “applying” for a new PPP loan today, it’s outdated or misleading. If they’re talking about forgiveness for an old loan, that can still be real.

PPP Status And Next Actions By Situation

This is where most readers get unstuck. Pick the row that matches your situation and act on it.

Your situation	What it means	Best next step
You never received a PPP loan	No new PPP loans can be issued	Shift to current SBA financing options and local programs
You received PPP and already got full forgiveness	Funds are closed; your loan is settled	Archive records in case of later questions
You received PPP and haven’t applied for forgiveness	You may still be able to request forgiveness	Apply through your lender or SBA direct portal if eligible
You applied and got partial forgiveness	Remaining balance stays as a loan	Ask lender for amortization details and review eligible costs
You were denied forgiveness	Denial can stem from documentation gaps or rule issues	Ask lender for the reason code and re-check covered period records
You received an SBA loan review decision	Some SBA decisions can be appealed by the borrower	Check the 30-day appeal deadline and file only if you qualify
Your lender made a decision you think is wrong	OHA appeals don’t cover lender-only decisions	Dispute it with the lender directly and document every step
You’re worried about taxes on forgiveness	Federal treatment excludes qualifying forgiveness from gross income	Keep records and confirm state rules before you file

Appeals And Disputes: What’s Still Possible

There’s a lot of chatter online about “appealing PPP.” The rules are narrow. A borrower can appeal a final SBA loan review decision to the SBA Office of Hearings and Appeals (OHA), and the timing is strict.

The regulation text is public on the eCFR site, including the 30-day filing rule and the OHA case portal reference. 13 CFR Part 134 Subpart L.

What you can’t appeal through OHA

OHA doesn’t handle a lender’s internal call if there’s no SBA final loan review decision behind it. If your issue is “my bank won’t accept my form” or “my bank says no,” start with the lender’s escalation path.

What helps if you’re close to the deadline

If you truly have a final SBA loan review decision and you’re near the 30-day mark, act fast. Gather the decision letter, your application packet, and the records that answer the specific reason for the decision. Sloppy filings waste time and can sink a case.

Tax Treatment: What To Expect After Forgiveness

On the federal side, qualifying PPP forgiveness is excluded from gross income under the related statutes and IRS interpretation. One IRS Chief Counsel memorandum walks through that exclusion and also notes that inaccurate representations can change the outcome. IRS memorandum on PPP forgiveness income exclusion.

Two practical takeaways for your records:

• Keep your forgiveness decision, covered period payroll reports, and receipts tied to eligible costs.
• Check your state’s treatment. Some states followed federal treatment, some didn’t, and state conformity can vary by year.

Documents To Gather Before You Touch Any Portal

Paperwork is where most people stumble. When your files are clean, the process is far less stressful. Use this list as your staging area.

Document	What it proves	Where people find it
PPP note or loan agreement	Loan amount, date, terms, lender	Lender portal, closing email, or printed packet
Loan disbursement record	When funds hit your account	Bank statements or lender transaction history
Payroll register for covered period	Wages paid during the covered period	Payroll provider reports
Payroll tax filings	Payroll totals that back up payroll reports	941 filings, state payroll filings
Owner compensation records	Owner pay amounts claimed	Schedule C, payroll draws, bookkeeping
Lease or mortgage interest statements	Eligible occupancy costs	Lease contract, lender statements
Utility bills	Eligible utility costs	Provider bills, bank statements
Forgiveness application copy	What you certified and submitted	Portal download, lender confirmation email

When The Best Move Is To Stop Chasing PPP

If you don’t already have a PPP loan, you can save a lot of time by closing the tab on “PPP funds” searches. The program’s loan intake is done. Your energy is better spent on current financing that fits your business today.

Start with your own lender and ask about:

• Working capital lines tied to real cash flow
• Term loans with clear payment schedules
• Local and state small-business financing programs

If you do have a PPP loan, the path is still clear: finish forgiveness if you’re eligible, keep clean records, and respond quickly if your lender or SBA asks for something.

Quick Checks To Avoid PPP Scams

Scam pitches thrive on confusion. Use these checks before you hand over data:

• Don’t pay a fee to “apply for PPP” today. New PPP loans aren’t a thing.
• Don’t share your EIN, SSN, or bank login with a site that isn’t your lender or the SBA portal.
• Look for official domains: sba.gov, irs.gov, ecfr.gov.
• If you’re unsure, step back and verify the page address letter by letter.

That’s it. The answer is simple: no new PPP loan funds, yes on forgiveness and certain cleanup actions for existing borrowers. Once you match your situation to the right next step, the rest is paperwork and patience.