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CORONAVIRUS EMERGENCY LANS Small Business Guide and Checklist
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 (PPP), the initiative provides 100% federally guaranteed loans to small
businesses that 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.
The administration soon will release more details including
the list of lenders offering loans under the program.
Here is what you need to know.