The CARES Act with Paycheck Protection Program
The Relief Package Was Approved
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed by President Trump on Friday, March 27, 2020. There are multiple components to the relief funds that may benefit your business. A core element is the Paycheck Protection Program. In short, these are SBA loans that may be forgivable to eligible businesses and 501(C)(3) organizations that use the loans for the program’s specific guidelines. For guidance on any COVID benefit programs, please call us.
Our COVID Response Group
If you need our help, please call. We want to make sure you are maximizing all benefits, making the right choices and accounting for any funds or benefits you receive. Our group can help you with:
- SBA Loan Application Processing
- Comprehensive Tax Relief Evaluation Covering All Components of the CARES Act
- Cash Flow Projections and Tracking
A Few Items to Share
- There are multiple programs. If you select one, you may not be eligible for another.
- The Paycheck loans will need to be processed through your financial institution. As of today, most financial institutions are working as fast as they can to get set-up to process loan requests.
- The loan can pay for up to 8 weeks of qualified payroll. For more information on the exceptions involved, contact Perry & Associates.
- The loan can also be used for utilities, mortgage interest, rent payments, healthcare benefits, interest on existing debt.
Let Us Help
Please contact us with questions or to discuss your specific situation. We will help you through these difficult financial decisions.