The CARES Act makes loans available for small businesses: Are you eligible and what should you know?

The Coronavirus Aid, Relief, and Economic Security Act of 2020 (“CARES Act”) includes a program, the Paycheck Protection Program (“PPP”) to help small businesses who need financial relief during the Coronavirus 2019 (“COVID-19”) pandemic.

The PPP gives eligible businesses access to 100% federally guaranteed, forgivable loans, which are available until June 30, 2020, to help businesses cover payroll and other key expenses, including:

• Salaries, wages, commissions, health care premiums, and other payroll costs
• Existing debt obligations, mortgages, rent, leases
• Utilities, gas, electric, internet

This summary is intended to help you determine if your business is eligible to receive funds under the PPP, and to provide information on how to obtain a PPP forgivable loan.

If you have questions about your eligibility or any other questions about the PPP, the Gunster Law Firm has assembled a COVID-19 Response Team to assist with the PPP application process.

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The provisions provided on this webpage are not legal advice.  For specific legal advice related to the CARES Act, contact Jonathan Osborne.