A Small Business Guide and Checklist for the Paycheck Protection Program
Updated: Tuesday, April 1, 2020
On Friday, March 27, 2020, the U.S. Congress passed and the president signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. As part of the $2.2 trillion stimulus funds included in the CARES Act, $350 billion is allocated to help small businesses. Known as the “Paycheck Protection Program,” small businesses that maintain their payroll during the COVID-19 pandemic will be able to apply for 100% federally guaranteed emergency loans. These loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.
To follow is a "Paycheck Protection Program" check list for small businesses.
On Friday, March 27, 2020, the U.S. Congress passed and the president signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. As part of the $2.2 trillion stimulus funds included in the CARES Act, $350 billion is allocated to help small businesses. Known as the “Paycheck Protection Program,” small businesses that maintain their payroll during the COVID-19 pandemic will be able to apply for 100% federally guaranteed emergency loans. These loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.
To follow is a "Paycheck Protection Program" check list for small businesses.
| mscc-uscc_20200401_smallbusinessppploanguide.pdf |