Understanding the Payroll Protection Program

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In the response to the negative economic impact the Coronavirus has had on American business, the federal government implemented the Payroll Protection Program, a $349 billion component of the recent CARES Act to help small businesses through these difficult times. Applying is straightforward, the loan may be forgivable, and the purpose behind it is to help keep one’s employees paid and financially secure.  What is It and How Does It Work? The Payroll Protection Program offers loans to most United States businesses that have 500 or fewer employees, and have…