The federal loans are meant to keep employees on company payrolls, but businesses forced to close say there’s little for their workers to do.
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Here are the details on how small business owners can access the SBA’s resources. This article will continue to be updated as new information becomes available.
McConnell, McCarthy insist Trump administration’s call to grow program must be met immediately
The government wants to get loans to small businesses fast. But the lenders with the most experience with this have been unable to take part.
The $349 billion Paycheck Protection Program is intended to help small employers weather the pandemic. But whether it does isn’t clear.
This part of the CARES Act allows small businesses to borrow 2.5 months of payroll expenses (up to $10 mil) and not have to pay those loans back as long as they are spent on payroll and overhead per the rules the government lays out.