On Friday, March 27th, the President signed into law the CARES Act, a 2 trillion dollar stimulus package intended to combat the severe economic damage caused by the coronavirus pandemic. The CARES Act includes many provisions intended to help small businesses and startups. One of the most important components of the CARES Act for small businesses and startups is the Paycheck Protection Program which provides business loans through approved lenders under favorable terms and potential eligibility for loan forgiveness.

Here are some frequently asked and answered questions in the CARES Act.