What to Do After Receiving a PPP Loan
May 13, 2020
The Paycheck Protection Program (PPP), part of the Coronavirus Aid, Relief and Economic Security Act (CARES Act) is a small business loan program which provides 100% federally guaranteed loans to business owners hoping to keep their employees on the payroll during this pandemic. The loans are available through end of June 2020, but most importantly, they may be forgiven if borrowers maintain their payrolls during the crisis.
Using the funds appropriately to remain eligible for forgiveness, applying for loan forgiveness and best practices for employers who are recipients of these loans is discussed in further detail HERE.