How to Apply for a Forgivable Small Business Loan: The CARES Act

The CARES Act includes the Paycheck Protection Program (PPP). This program offers $349 billion in Small Business Administration (SBA) loans for businesses with 500 or fewer employees.

SBA approves loans for small businesses based on a number of factors, including business collateral, personal guarantees by the borrowers, and the credit score of the company owners. PPP loans, however, have different requirements.

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