The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law in March 2020 created the Paycheck Protection Program (PPP) through the Small Business Administration (SBA). The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities. If the funds are used for certain expenses, all or part of the loan may be forgiven.
The Wisconsin Bankers Association created a toolkit for businesses to reference when deciding how to use the funds and what expenses will be covered under the loan forgiveness portion of the PPP. To view the toolkit, click the link below:
Paycheck Protection Program - WBA Toolkit