The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The Small Business Administration will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

The Program authorized $350 billion in fully forgivable loans to help small businesses maintain payrolls during the coronavirus pandemic. The program went live on April 2, 2020 and is being run through local financial institutions.

Additional information can be found here:

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp