SBA Issues Guidance on Paycheck Protection Program
With record-breaking speed, the U.S. Small Business Administration (SBA) has begun providing guidance on how the recently created Paycheck Protection Program (PPP) will work in practice, attorneys at Bulkley Richardson note. The PPP is one of the new programs created by the CARES Act, the more than $2 trillion emergency relief package fast-tracked through Congress in less than a week. The PPP is designed to encourage employers to keep employees on the payroll throughout the coronavirus crisis.