Understanding the Paycheck Protection Program
The Paycheck Protection Program is the centerpiece of small business emergency relief in the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act. The program provides $349 billion in loans and grants for small businesses impacted by the COVID-19 pandemic. Applications open for paycheck protection loans for small businesses and sole proprietorships on Friday, April 3. Join the Economic Innovation Group and Caleb Orr, Policy Advisor to Chairman of the Senate Committee on Small Business and Entrepreneurship Senator Marco Rubio, to learn about how the Paycheck Protection Program works, how it differs from other Small Business Administration loans, how to apply, where to find helpful resources, and what to expect from future federal efforts to support small businesses and entrepreneurs through the COVID-19 crisis. EIG will be hosting a series of webinars and publishing helpful resources over the coming weeks on key aspects of the unfolding crisis.
EIG Links
Paycheck Protection Program Resources
U.S. Small Business Administration’s (SBA) Paycheck Protection Program website and sample loan application form
U.S. Treasury Department’s Paycheck Protection Program information sheet for borrowers
U.S. Treasury Department’s Paycheck Protection Program information sheet for lenders
U.S. Senate Committee on Small Business and Entrepreneurship's Paycheck Protection Program FAQs
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