Applications for Paycheck Protection Program Loans Open April 3, 2020

We hope everyone is prepared with their loan applications for the Paycheck Protection Program. The U.S. Treasury Department, the Small Business Administration and all banks have been working overtime to get money to small business owners so they can use it for payroll and other expenses.

As most of you know, the original CARES Act left us with many questions. The SBA published Business Loan Program Temporary Changes Paycheck Protection Program on April 2nd, which provides some additional guidance.

Good luck to everyone in your application process. We will continue to update our website on a daily basis to provide guidance to everyone.

To read the most recent updates on the Business Loan Program Temporary Changes; Paycheck Protection Program, click here.

To retrieve a copy of the Paycheck Protection Program Borrower Application form from the SBA.gov website, click here.

DISCLAIMER: The WM Daily Update COVID-19, COVID-19 Business Resources and COVID-19 Client News Alerts and other related communications are intended to provide general information on legislative COVID-19 relief measures as of the date of this communication and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. As legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that may modify some of the provisions in this communication. Some of those modifications may be significant. As such, be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.