U.S. Department of Treasury Releases Information on Paycheck Protection Program

Earlier today, the U.S. Department of Treasury shared new information regarding the Paycheck Protection Program. The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. Please review the resources provided by the U.S. Department of Treasury below and visit their webpage for additional information.

• A top-line overview of the program can be found here.
• If you’re a lender, more information can be found here.
• If you’re a borrower, more information can be found here.
• The application for borrowers can be found here.

Coronavirus Loan Guide to Help Small Businesses

As we shared last week, the U.S. Chamber has created a guide to help small businesses, independent contractors, gig economy workers and other qualifying individuals prepare to file for a coronavirus relief loan under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Our hope is that this guide will prove to be a valuable resource for you and your members as you begin to take the necessary steps towards accessing the fund to keep workers on the payroll during this disruptive period.

NEW: The U.S. Chamber’s Coronavirus Emergency Loans Small Business Guide and Checklist is also now available for download in Spanish by visiting here.

In addition to the guide, we’ve compiled an interactive map to show the aid available on a state-by-state basis. To view the interactive map, please click here.