Guidance on the Paycheck Protection Program
The US Treasury and US Small Business Administration released frequently asked questions on the Paycheck Protection Program. Lenders started accepting applications from small businesses and sole proprietorships on April 3 for the loans. (Starting April 10, 2020, independent contractors and self-employed individuals can apply.)
The FAQs will help provide clarity for both borrowers and lenders on the application and execution of the Paycheck Protection Program.
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