Breaking Down the CARES Payroll Protection Program
The CARES Act was signed into law on Friday, March 27, 2020.
This is great news but it's important for you to be proactive and act immediately If you own a business (even a sole proprietorship).
Below you will find a video I recorded for some of our self-employed financial advisors (but the information is relevant to most businesses), along with the resources and tools related to the CARES Payroll Protection Plan and 7A loans that you can use today to help your business and your employees.
UPDATE SINCE THE VIDEO WAS RECORDED: They are now looking at payroll over the time period of 1/1/19 through 12/31/2019, rather than a rolling 12 months as discussed in the video. This video content and loan requirements are subject to change and we will keep you informed with information as we receive it. Please contact your lender for all the details.
Small Business Guide & Checklist
U.S. Department of Treasury Cares Act Page
Paycheck Protection Program Overview
Paycheck Protection Program Fact Sheet