The U.S. Treasury just released this summary of the Paycheck Protection Program (PPP)
. This program could be a good option for small businesses as it provides forgivable loans up to the two months worth of a businessís average payroll expenses (up to $10 million).
The stimulus bill provided $350 billion for the program but due to high demand, itís expected to be disbursed quickly. Treasury is supposed to start accepting applications tomorrow, so interested businesses should work with lenders and prepare applications as soon as possible. More information on the program, including the application, is available here.
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