FORGIVABLE LOANS FOR PAYROLL, RENT, MORTGAGE INTEREST AND UTILITIES

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The Small Business Association (SBA) will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The Paycheck Protection Program will be available through June 30, 2020. For more information, click here.

As a way of addressing some of the questions about the SBA sections of the CARES Act,  James Segroves with Reed Smith wrote a memo for members of the American Health Care Association (AHCA).  You can read this memo by clicking here.