Alert:
The Department of Treasury has released the Paycheck Protection Program application and supplemental information, all available on their website.
Sample Application for the Paycheck Protection Program is Now Available: https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf
Lenders may begin processing loan applications as soon as April 3, 2020.
Currently, the SBA has a number of programs available through the $2 trillion CARES Act, the largest aid package in American history. One in particular companies should be reviewing is Paycheck Protection Program:
The Paycheck Protection Program (“PPP”) is an emergency lending facility, administered by the Small Business Administration (SBA), to permit small businesses, nonprofits, and individuals to obtain loans via the 7(a) Loan Program (“PPP Loans”). A link to the full bill is located here.