Paycheck Protection Program (PPP)
This federal program is designed to provide relief for small businesses during the COVID-19 pandemic. PPP authorizes up to $349 billion in forgivable loans to American small businesses to pay their employees during the COVID-19 crisis. The guaranteed loans will provide eight weeks of cash-flow assistance to qualified businesses and the terms will be the same for everyone. As of April 3, 2020, any nonprofits, veteran’s organizations, Tribal business concerns, sole proprietorships, self-employed individuals, and independent contractors – with 500 or fewer employees can apply for the program.