Important Follow-up Regarding the SBA Paycheck Protection Program Under CARES

  • The following links will take you to:
    • The “Paycheck Protection Program” Information Sheet
    • The Loan Application Form
  • Note that the application states the lender will calculate the eligible loan amount using submitted tax documents
  • Applicant must sign a Good Faith Certification that the uncertainty of current economic conditions makes the loan request necessary to support ongoing operations. This being a contractual stipulation, consider consulting with your attorney regarding this subjective requirement.

PLEASE note that there are numerous questions about the potentially forgivable provision. It is too soon to determine for sure whether or not your individual company will qualify.

Consider what makes the most sense for RUNNING your business from the standpoint of layoffs and other immediate cost-cutting measures.

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