Earlier today, the Treasury Department issued details related to the Paycheck Protection Program, which was enacted under the Coronavirus Aid, Relief and Economic Security (CARES) Act (P.L.116-136). The program allocates nearly $350 billion for companies to cover payroll expenses so they can retain workers during the coronavirus pandemic.
The material released today can be found below:
A summary of the program can be found here.
- Lenders can find more information here.
- Borrowers can find more information here.
- Borrowers can find the application here.
To read more about the Paycheck Protection Program and other assistance available to small business employers, read the Brownstein Small Business Team’s Industry Guide.
Information is changing daily and some of the content included in this alert may have changed or been updated since publication.