United Benefit Advisors (UBA) has released a memo focused on the CARES Act Paycheck Protection Program (PPP). “Under the PPP, which is an extension of the SBA Section 7(a) loan program, qualifying small businesses are eligible to borrow up to $10 million, in order to maintain their workforce from February 15, 2020, until June 30, 2020. All or a portion of the loan may be forgiven if the borrower follows the SBA guidelines. Treasury has issued FAQs and the application form on its website. Information on the program is also available on the SBA website.”
The memo is attached, or you can Click Here for a copy.