Overview of the Paycheck Protection Program
The CARES Act includes financing options for small businesses owners and independent contractors, including the Paycheck Protection Program (PPP). Many small business owners are seeking guidance as they apply for loans backed by the Small Business Administration (SBA) to help maintain cash flow and retain workers even as more states announce new quarantine and shelter-in-place orders. While many Americans are becoming more familiar with the rebate portion of the bill, the legislation also supports small businesses and independent contractors. The law runs more than 800 pages and contains hundreds of provisions designed to dispense relief to individuals and businesses in the wake of the ongoing public health crisis. 748), which passed last week as the largest financial support package in U.S.
Americans are still digesting the $2.2 trillion CARES Act (H.R.