The CARES Act signed into law on March 27, 2020 created a new loan program to help businesses with under 500 employees weather the economic hardship resulting from the global COVID-19 pandemic. The Paycheck Protection Program allows businesses to borrow money to cover payroll, health care costs, and other operational costs such as rent and utilities. It also offers loan forgiveness provisions for businesses that keep their workforce employed.
For the many businesses currently being impacted by this crisis, the Paycheck Protection Program and similar loan programs can offer much-needed relief.
This on-demand webinar covers:
- Key provisions of the Paycheck Protection Program
- Aspects of the related PPP Loan Forgiveness
- Additional relief offered by the Economic Injury Disaster Loan Program
- How to prepare for the loan application process
Watch the rebroadcast:
We are also regularly updating our COVID-19 Resource Center, which you can access here. If you have any questions about these or any other matters, please do not hesitate to contact your Kreischer Miller professional or any member of our team.
Information contained in this alert should not be construed as the rendering of specific accounting, tax, or other advice. Material may become outdated and anyone using this should research and update to ensure accuracy. In no event will the publisher be liable for any damages, direct, indirect, or consequential, claimed to result from use of the material contained in this alert. Readers are encouraged to consult with their advisors before making any decisions.