Economic developments from the COVID-19 virus — and the federal government’s responses to them, including an additional $310 billion for the Paycheck Protection Program (PPP) — continue to rapidly evolve. With trillions of dollars in government funding made available for American businesses and individuals, you may wonder how to effectively leverage these programs for your business and how to be first in line as additional PPP funding becomes available.
View our previously recorded webinar presentation by banking and finance legal expert Michael Royle, for an overview of what you need to know to navigate PPP, along with an interactive Q&A with C2FO leaders.
This new loan program, established under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, is designed to provide a direct incentive for small businesses to keep their workers on the payroll. Learn more about the program, your eligibility and what it could mean for your business now and in the future.
Key Takeaways From the Webinar:
- We expect the $310 billion of PPP funding to become available by May 1.
- Every business affected by the uncertainty of COVID-19 should apply quickly.
- Forgiveness is not guaranteed. There are considerable rules to follow. Each business should conduct research and consult experts where warranted.
- Large banks are struggling with volume, whereas smaller banks and fintech lenders have more bandwidth to devote to PPP applications.
C2FO has a partnership with BlueVine that enables you to apply for a PPP loan today. Visit https://www.bluevine.com/c2fo-ppp to learn more.