CARES Act Paycheck Protection Program
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, the initiative provides 100% federally guaranteed loans to small businesses who 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. In the meantime, the U.S. Chamber of Commerce has issued this guide to help small businesses and self-employed individuals prepare to file for a loan.
In the event that this program may benefit you or someone you know, please feel free to contact me directly at 908-680-6185 or via email at Gary@mlcpanj.com.
Gary S. Mannuzza Jr., CPA
Mannuzza & Company, LLC
We offer a broad range of services for business owners, executives,
and independent professionals. We are affordable, experienced, and friendly.
Please call us today at (908) 680-6185. We'll be happy to offer you a free initial consultation. Thanks for visiting!