Monthly Archives: April 2020

Paycheck Protection Program for Small Business

Recently, the Corona Aid Relief and Economic Security Act (CARES Act) was signed into law. The CARES Act allocates $350 billion to the Paycheck Protection Program (PPP). The PPP program is designed to help small businesses meets their payroll and other financial needs by providing businesses with a loan to be used for any of the following expenses:

  • Payroll expenses up to $100K per employee (sub-contractors are not included).
  • Mortgage, rent or lease payments.
  • Health benefits under a group health plan.
  • Retirement Plan funding payments.
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