CARES Act Forgivable Loans

Posted by Robert Kelly on Mar 27, 2020 5:17:35 PM

Payroll Protection Program Loans

UPDATE - April 3, 2020

Here is a link to the SBA PPP Loan Application. Check with your bank on their requirements.

Banks are still trying to understand the regulations for the Payroll Protection loans. They only received "final" guidance on April 2nd at 7:00 pm.

You probably are already aware of the CARES Act loans that will help with some payroll (2.5 months) plus other expenses that can be forgiven. 

I urge you to

read the attached PDF from the US Chamber of Commerce and

call your bank’s loan officer. They will likely have loan apps for this ready by Tuesday.  Banks will be processing requests quickly and no collateral will be needed. 

Good luck.

Chamber of Commerce CARES Loan Info

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