small businessowner: How the CARES Act Could Help You as a Small Business Owner
- 04/05/20 02:02 PM
With the passage of the $2 Trillion dollar CARES Act, small businesses will have access to $350 billion in forgivable loans if they meet certain requirements. The Small Business Administration, under the stimulus package, will oversee the Paycheck Protection Program, which will distribute $350 billion to small businesses that can be partially forgiven if the companies have 500 or fewer employees and use them to keep paying people who earn less than $100,000 a year. How soon will the money arrive? It will take “a week or two" to get the PPP loans flowing, said Chris Maher president of New Jersey-based OceanFirst Bank. How long will … (0 comments)
With the passage of the $2 Trillion dollar CARES Act, small businesses will have access to $350 billion in forgivable loans if they meet certain requirements. The Small Business Administration, under the stimulus package, will oversee the Paycheck Protection Program, which will distribute $350 billion to small businesses that can be partially forgiven if the companies have 500 or fewer employees and use them to keep paying people who earn less than $100,000 a year.
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