Many — perhaps most — businesses in the U.S. may anticipate substantially lower revenues during 2020 than in previous years because of the COVID-19 pandemic, and many may have losses this year. Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March in order to provide stimuli…
Congress established multiple programs to assist individuals, families, businesses, medical providers, and others in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Paycheck Protection Program (PPP) provides loans to small businesses to cover certain operating expenses. The portion of a PPP loan used to pay covered expenses is…
The Paycheck Protection Program (PPP), part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, provides loans to eligible businesses to cover payroll and certain other expenses. The U.S. Small Business Administration (SBA) guarantees the loans, and a portion of each loan is forgivable. While the CARES Act specifies…
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