By 
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
