Paycheck Protection Program
- The Treasury Department issued guidance on the Paycheck Protection Program. Small businesses and eligible nonprofit organizations, veterans organizations, and individuals who are self-employed or independent contractors are eligible if they also meet program size standards. SBA will forgive the portion of the loans used for payroll, rent, utilities, etc. if all employees are kept on payroll for eight weeks. Resources:
- Updated Frequently Asked Questions
- SBA released PPP guidance for individuals with self- employment income who file a Form 1040, Schedule C. This rule also addresses eligibility issues for certain business concerns and requirements for certain pledges of PPP loans.
- How to apply for PPP Loan Forgiveness