Recent legislation offers relief for small organizations hard hit by the COVID-19 pandemic. The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided funding for traditional SBA 7(a) loans, expanded disaster relief loans, and perhaps most significantly, created Paycheck Protection Program (PPP) loans to help small employers offset the costs of their payroll expenses. PPP loans can be forgiven if certain conditions are met. Demand for PPP loans and other SBA relief is expected to be significant, so we have compiled frequently asked questions to help you understand and act on the benefits available. Keep in mind that the current environment is evolving, so some of the details in our FAQ could change as the government releases more guidance around the applicable provisions. We will continue providing those updates as they arrive. Below encompasses our understanding of the facts and situation based on the information released so far.

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