The CARES Act & Paycheck Protection Program (PPP)

The CARES Act & Paycheck Protection Program (PPP)

The Coronavirus Aid, Relief and Economic Security (CARES) Act was voted on at the end of March and it includes many different strategies to provide economic relief during this pandemic. 
One program that may be of interest to our business community is the Paycheck Protection Program.  

The Paycheck Protection Program (PPP) loans, unlike Economic Injury Disaster (EIDL) loans, are processed through any existing Small Business Administration (SBA) 7(a) lender or through any participating federally insured depository institution, federally insured credit union, and Farm Credit System institution. You should consult with your local lender as to whether it is participating.
  Our office has compiled a list of local participating lenders. Please note that this list only includes local lenders and will be updated. 

For more information on the CARES Act, Congresswoman Trahan's Office has put together a comprehensive summary of the $2 trillion stimulus package.

MA Growth Capital Corporation offering PPP Technical Assistance and Multilingual Translation
Massachusetts Announces Initial Implementation of New Federal Unemployment Benefits From CARES Act (4/9/2020)
SBA Economic Injury Disaster Loan Webinar
Paycheck Protection Program (PPP) Fact Sheet
PPP Application
PPP Worksheet Example
Find a nearby lender eligible to issue a loan under the Paycheck Protection Program