Federal Spotlight: Treasury Issues Guidance for Paycheck Protection Program; Take Advantage of This Relief

April 2, 2020

Earlier this week, the U.S. Treasury Department unveiled guidance for a large component of the Phase III coronavirus relief legislation that President Trump recently signed into law. The CARES Act, which was a $2.2 trillion package aimed at alleviating the burden the American economy is enduring due to the coronavirus, includes the $349 billion Paycheck Protection Program, which provides forgivable loans to small and medium sized businesses to keep their employees on the payroll. Businesses can start applying tomorrow. Below are valuable resources your business can use to learn more about the program and apply for a forgivable loan through your financial institution.