The Paycheck Protection Program is a significant piece of the recently-passed Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). It is designed to help nonprofit and for‑profit businesses with less than 500 employees cover payroll and other expenses. Under the Program, small businesses may receive cash-flow assistance in the form of loans administered through banks and credit unions. Loan proceeds may be used to cover payroll, mortgage and debt interest, rent, and utilities. To qualify, the borrower must More +