CARES ACT CREATES PAYCHECK PROTECTION PROGRAM THAT MAY ASSIST SMALL BUSINESSES THROUGH FORGIVABLE LOANS

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, creates the Paycheck Protection Program, which provides loans to small businesses to assist with business obligations. Loans made through this program may also be forgiven, so long as the funds are used for qualifying purposes, and the borrower keeps, and continues to pay, its employees.

Read More »