Demystifying the CARES Act Webinar - April 3, 2020 CARES Act Webinar – BD 4.3.2020 | Page 15

PAYCHECK PROTECTION PROGRAM
(PPP)
Expands the businesses that are eligible for loans,
modifies the loan terms
Allows forgiveness of loan if borrower
maintains payroll, or restores by June 30, 2020,
previous full-time employment and salary levels
for changes made between February 15, 2020, and
April 26, 2020 .
Can't defer employer payroll taxes if you get PPP.
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