Q&A: Paycheck Protection of the CARES Act

By |2020-05-11T09:33:17-05:00March 30th, 2020|Business, COVID-19, Paycheck Protection Program|

By: Scott Borsack Who is eligible for Paycheck Protection loans? Generally employers with fewer than 500 employees, independent contractors and certain not for profit entities are eligible for a Paycheck Protection loan. There are provisions that allow employers with multiple locations to consider each location as a separate eligible borrower. Is there a loan [...]

Paycheck Protection Provisions in the CARES Act

By |2020-05-11T09:33:35-05:00March 26th, 2020|Business, COVID-19, Paycheck Protection Program|

By: Scott Borsack One of the many relief provisions in the CARES Act attempts to allow employers to provide salary continuation benefits for employees while also allowing for the payment of interest on loans, rent and utility charges. The Act provides for loans to be made by financial institutions and the Small Business Administration [...]

Forgivable SBA Loans Included in CARES Act

By |2020-05-11T09:33:45-05:00March 26th, 2020|Business, COVID-19, Paycheck Protection Program|

The "Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) was passed the U.S. Senate 96-0 on March 26, 2020. If passed by the House and signed by the President, the Senate Bill should give much added to relief to businesses with 500 employees or less. The Act will provide small businesses with forgivable [...]

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