The Treasury Department Clarifies Confusion Concerning PPP Eligibility for Small Businesses
Small businesses are jumping at the opportunity to obtain loans under the Federal Paycheck Protection Program (PPP). The CARES Act provides $349 Billion for PPP loans, and the Trump administration had requested an additional $250 Billion in funding to the support the program. As of April 7, lenders had already lent $70 Billion of the funds committed to the program. However, there was some initial confusion concerning which businesses qualify for PPP loans. Under the SBA’s initial guidance, there was confusion as to whether small businesses needed to have less than 500 employees and meet any applicable revenue caps to […]




