SBA Paychecks Protection Program
SBA Cares Act Update:
- The SBA Cares Act program that is being handled by private banks is called the "Paychecks Protection Program"
- This is the portion of the loan that is eligible to be forgiven
- Check your emails from your bank for an application link or go to your bank's website to look for the online application - this will be faster than going into your bank
- Most likely your local bank will not be able to help you out because they either don't know how it works or not prepared to help you
- The banks are not prepared to handle the large numbers of businesses applying so expect delays, road bumps, and systems being down