Paycheck Protection Program Details

We have mentioned to some of our clients that the US CARES Act included the Paycheck Protection Program. The Program functions as an SBA loan that is forgivable under certain circumstances. Here is a Forbes article on it:

https://fortune.com/2020/03/31/sba-small-business-loans-paycheck-protection-program-who-qualifies-when-how-to-apply-how-much-pay-back-ppp-coronavirus-stimulus-faq/

And here is the application (as of today) on the Treasury website:

https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf

It may be just the shot in the arm your small business needs to make it through these turbulent waters.