COVID 19: CARES Act Paycheck Protection Loan
This loan program is part of the CARES Act that could be a nice benefit for your business. If you are keeping your employees on the payroll while the COVID-19 pandemic continues, you can apply for a loan for up to 8 weeks of payroll and other associated overhead costs like mortgages, utilities and lease payments. Members can get their paperwork together now, and contact your local/current bank to make an appointment. Businesses will need one year of expenses and payroll records.
This is the release from the Treasury Dept., March 31, 2020
This is an overview of the Paycheck Protection Loan Program
This is the SBA website where members can apply for a Paycheck Protection Loan