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Paycheck Protection Program Reference

April 13, 2020 | COVID-19

CARES Act – Coronavirus Aid, Relief, and Economic Security Act enacted March 27, 2020 PAYCHECK PROTECTION PROGRAM FOR SMALL BUSINESSES AND SOLE PROPRIETORS

Under good-faith certification that the loan is necessary due to uncertain economic conditions caused by COVID-19

Small businesses, including sole proprietors, may apply for a loan through the Paycheck Protection Program. Self-employed individuals may apply April 10 and it is a first-come, first-serve basis. The loan amount is restricted to a formula and is eligible for forgiveness. Here is some guidance and resources to help:

Resources for sole proprietors:

Small Business Guidance & Loan Resources

Coronavirus Funding Options – SBA loan and debt relief options:

Disclosure: This is for informational purposes only. Please seek advice from your advisor or tax professional. Information may change.