Updated as of June 30, 2020
The Paycheck Protection Program (PPP) is one of several programs under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) designed to help small businesses cope with the financial devastation caused by COVID-19. This $650+ billion program provides potentially forgivable loans to eligible small businesses in order to assist them with the payment of specific expenses, namely, payroll costs, rent, utilities, and certain interest payments. PPP loans are provided by SBA-certified lenders and guaranteed by the SBA. If certain conditions are met, up to the full amount of a borrower’s PPP loan can be forgiven.
Download and use this guide to maximize your loan forgiveness under the PPP and ensure you are taking full advantage of government relief programs related to COVID-19.