HMAA understands that this is a difficult time for businesses, and we continue to have your best interest at heart. You may have heard about the Small Business Administration’s (SBA)
Paycheck Protection Program
(PPP), which businesses can use to help cover certain expenses and keep employees insured. As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act recently signed into law, the PPP provides eligible businesses (e.g., independent contractors, sole proprietors, and businesses with fewer than 500 employees) financing for key expenses such as payroll, health insurance, mortgage/rent, and utility payments.
The PPP is a 100% federally guaranteed loan that may be fully
if the loan is used to pay key business expenses and if the employer maintains their workforce through June 30, 2020.