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

https://home.treasury.gov/news/press-releases/sm961

This is an overview of the Paycheck Protection Loan Program

https://home.treasury.gov/system/files/136/PPP%20--%20Overview.pdf

This is the SBA website where members can apply for a Paycheck Protection Loan

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources