Around Town
Friday is First Day Businesses Can Apply for Paycheck Protection Loans, Part of COVID-19 Stimulus
|
One of the key form of aid to businesses dealing with the impact of the Coronavirus outbreak begins Friday — the Payroll Protection Program. The program is part of the Federal CARES (Coronavirus Aid, Relief, and Economic Security) Act, and provides loans not only to businesses, but also non-profits and sole proprietors. The PPP was announced just last week and details are still being ironed out, including where to to to get the loans. Doug Orifice, principal at Arsenal Financial and co-founder of the Watertown Business Coalition, said that he has spent most of the last week pouring over the details of the CARES Act looking for ways it can help small businesses. The PPP may be a big help.