PRESENTING: The inside story of the businesses, banks, and bureaucracies grappling with the $670 billion attempt to rescue Main Street
The $670 billion Paycheck Protection Program (PPP) is the signature small business provision of the federal government's CARES Act, which was passed into law on March 21 in response to the COVID-19 pandemic.
The PPP is designed to keep employees on company payrolls — and off unemployment insurance — for an eight-week period that ends on June 30. A key feature of the program is that it has a pathway for forgiveness, which effectively turns the loan into a grants for companies that retain or re-hire their workers.
In spite of the PPP's initial popularity and extreme levels of demand, the program appears on track to have funds left over when the covered period ends next month.
Business Insider's entrepreneurship team has covered the PPP since it began, speaking to experts and staying on top of rapidly changing information to make sense of the twists and turns of this unprecedented rescue attempt for Main Street businesses.
BI Prime's exclusive reporting takes you inside the businesses, banks, and bureaucracies grappling with this complex story to bring back actionable insights that can help you make informed decisions.
Your options under the CARES Act: How your small business can cash in on the government's $670 billion relief program so you can quickly pay rent, keep staff employed, and restructure your debt
A rocky rollout: How the $349 billion PPP relief program for small businesses unraveled
Why big businesses got money: How major banks really decided which businesses got stimulus money
How outmoded tech is hampering the program: The inside story of E-Tran, the government tech that buckled under PPP
Choosing between relief options: Stimulus loan vs. tax relief: which is better for your small business
Considering an alternative to the PPP: This overlooked tax credit might be better for your business than a PPP loan
Best practices for managing your loan: Why experts say you should put your Paycheck Protection loan into a separate bank account
Spending the money the right way: How small business owners are using PPP loans effectively
The importance of documentation: How a consultant is helping his clients get their PPP loans forgiven
Protecting your business: How to prepare your business for an audit in case of PPP loan fraud
Understanding challenges that remain: Restaurants say they need $120B from Congress to survive the pandemic
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