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Miscellaneous

What is the paycheck protection program?


2 Answers

The Paycheck Protection Program is a business loan program created by the Coronavirus Aid, Relief, and Economic Security Act, to help small businesses, self-employed workers, sole proprietors, certain nonprofit organizations, and tribal businesses keep paying their workers and certain other costs.

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The 2020 Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on payroll. The loans will be forgiven if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

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