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Get Paid to Keep Employees–The Paycheck Protection Program

The CARES Act recently passed by Congress provides loan options available to business owners, including sole proprietors, independent contractors and those classified as self-employed. The program is called the Paycheck Protection Program, and it allows business owners to receive a low interest loan that will be forgiven if the loan proceeds are used to pay employees during this COVID-19 crisis.

We have recorded a 30-minute video answering important questions about this program so that you can decide as soon as possible about whether a loan is right for you, and how to apply.

The video covers 16 important topics:

  • Loan options available
  • How the Paycheck Protection Program works
  • Who is eligible
  • Where to apply
  • How to begin the process
  • Types of businesses eligible
  • Maximum amount to borrow
  • How the proceeds can be used
  • How to get the loan forgiven
  • Covered period of the loan
  • How much will/can be forgiven
  • When is the loan forgiven
  • Interest on the forgiven loan amount – responsibility
  • Interest rate and terms
  • Application deadline
  • Economic Injury Disaster Loan – convert to Paycheck Protection Program loan?

We are very thankful to ElderCounsel Principal and Russo Law Group Founder Vincent Russo for providing this valuable information.

WATCH VIDEO NOW

Paycheck Protection Program

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