Earlier today, the Treasury Department and the Small Business Administration (SBA) released new details about the Payroll Protection Program established under the CARES Act. The SBA continues to work with authorized lenders to finalize the application process, but it expects that lenders will be able to begin accepting applications as early as April 3, 2020.
To help companies prepare, the SBA issued a sample application which can be downloaded here.
More details about the Paycheck Protection Program are available on the SBA website here. The Treasury Department released its own fact sheet with additional details here.
If you need assistance determining eligibility, loan amounts, or other terms, please contact us.
We recently hosted a webinar which covered key provisions of the Paycheck Protection Program, aspects of the related PPP Loan Forgiveness, and how to prepare for the loan application process. You can watch the rebroadcast here.
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.
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