How to Apply for a Forgivable Small Business Loan: The CARES Act
Posted by Ken Boyd on 5/4/2020 to News
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.