The U.S. Department of the Treasury today released the guidelines and application form necessary to apply for and receive loans under the Paycheck Protection Program (PPP) of the new CARES Act stimulus bill. The PPP authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis.
Small businesses and sole proprietorships can apply for loans to cover their payroll and certain other expenses through existing Small Business Administration lenders, starting April 3.
Curi encourages all members seeking relief funds to apply as soon as possible and to contact their preferred banking partner for specifics on how to submit their application. You can access the application and information for borrowers via Treasury’s dedicated CARES Act website. (For an overview of the CARES Act from Curi partner CAI, click here.)