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For small and specially qualified businesses, the CARES Act offers financial assistance via the new Paycheck Protection Program (PPP). The PPP is being implemented under the Small Business Act as part of its Section 7(a) loan program, the primary lending program of the Small Business Administration (SBA). Under the PPP, some businesses are eligible to receive federally guaranteed loans of up to $10 million, which can be forgiven under certain circumstances.
Download our Paycheck Protection Program overview for more information, including requirements for eligibility and forgiveness.
If you have questions, please reach out to your Delap advisor.