SBA Updates Rules For Payroll Protection Loan

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If you are in the US and run a small business, the Payroll Protection Loan program went live on Friday April 3, 2020. The SBA and Treasury department clarified their guidance on April 7, 2020. If you haven’t applied for the loan yet, the new guidance could generate a larger loan amount. This plan offers an incentive to keep your employees on board for eight weeks. It offers a very-low-interest loan to cover eight weeks of payroll, and the loan can be forgiven if you keep your people employed at the same salary through the eight weeks.
Updated April 7 guidance: https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequenty-Asked-Questions.pdf
Info from Treasury Department: https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses
Quick Max Loan Calculator: https://www.mrexcel.com/download-center/2020/04/PayrollProtectionLoanCalculator.xlsx