Many small business owners are seeking guidance as they apply for loans backed by the Small Business Administration (SBA) to help maintain cash flow and retain workers even as more states announce new quarantine and shelter-in-place orders.
You may qualify for a forgivable emergency loan by the SBA
The CARES Act established the Paycheck Protection Program (“PPP”) that enables qualifying small businesses to borrow up to $10 million. These loans are eligible to be forgiven, if the loan proceeds are used pursuant to criteria as defined in the CARES Act, and other requirements are met.
More detailed information here about PPP: https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses
