The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses.
Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.
There are probably many questions you have about these loans. To help, we've attached the Coronavirus Emergency Loans Small Business Guide and Checklist from the U.S. Chamber of Commerce, as well as the The Small Business Owner’s Guide to the CARES Act, provided by the U.S. Senate Committee on Small Business and Entrepreneurship.