One of the more highly anticipated pieces of the CARES Act legislation recently signed into law is the Paycheck Protection Program (PPP). This program authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis.
Loan applications will begin on April 3 (for small businesses and sole proprietors) and starting April 10 (for independent contractors and self-employed individuals). As anticipated, there are a lot of questions about the program.
Click here to see current guidance regarding the PPP program.
Here at Frost, PLLC we are actively monitoring the situation and are available to help you navigate these turbulent times.
Please contact your Frost representative(s) with any questions.