The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses who maintain their payroll during this emergency.
Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.
Apply for this loan starting April 3, 2020 with your bank or another third party lender.
- US Chamber of Commerce Small Business ELA Loan Guide (updated 4.23.20. US Chamber)
- Paycheck Protection Program Flexibility Act (PPPFA or the “Act”) (6.8.20)
- PPP Borrower Information FAQ (UPDATE 5.27.20. Department of Treasury)
- Guide to PPP Loan Forgiveness (6.18.20)
- PPP Loan Forgiveness Application (EZ) (6.18.20)
- SBA PPP Webpage (SBA)