Most visitors to our site are familiar with the Paycheck Protection Program (PPP). It has attracted massive interest from business owners and non-profits across the country. The loan program was established with the passing of the CARES Act on March 27, 2020. The Program went live April 3rd with a directive to qualified lenders to deliver funding as quickly as possible.
The Act relaxed underwriting rules, excluded collateral and credit worthiness from the borrower requirements, and included other provisions to attempt to facilitate that directive. It was welcome relief for small businesses across America experiencing economic hardship as a direct result of public health measures to mitigate the spread of COVID-19.… Read More