Another Take on CARES and Payroll Protection Program

The effort by the Federal Government to assure the continuity of paychecks for those working in small business is a significant part of the CARES act pass by the House of Representatives and signed on March 27, 2020.

The CARES act creates the possibility of Small Business having employee salaries for the period March 1, 2020 to June 30, 2020 covered by a SBA loan. The loan can then be forgiven if used for payroll and correctly documented. Details of this are in the two previous post in this blog and also in this article reprinted below to from BakerHostetler.