Coronavirus Action Alert #6
From The Ward Damon Business Law Team
By Rana M. Gorzeck
The U.S. Small Business Administration (SBA) Paycheck Protection Program (“PPP Law”) just passed as part of the Coronavirus Aid, Relief and Economic Stability (CARES) Act last week. The PPP Law is a supportive effort by the Federal government to encourage businesses to maintain their current employees or rehire employees who have been let go due to the COVID-19 pandemic. Under the PPP, many small businesses are eligible to receive Federal guaranteed loans to support their payroll which can be later forgiven.
Below are some of the highlights of the Paycheck Protection Program: Continue reading
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