I called Tyler (Tyler Willis, CPA) a few days after the Paycheck Protection Program (PPP) was announced. We touched on some of the very basic questions around the program. This is Part 1. Look for Part 2 in a few days. How can it help the winery industry?
The Paycheck Protection Plan is another program from the CARES Act (Coronavirus Aid, Relief and Economic Security Act) that was passed by Congress on Friday, March 27. The purpose of this program is to prevent widespread layoffs during the Covid-19 crisis. A key feature of this program is that you could get as much as 2 months of your payroll and a few other expenses paid through this program. This is a huge benefit for you.
This information is still evolving, so stay tuned for updates. (This recording was not planned…as you can see by my messy office …it’s still tax season…)
Here are some additional resources:
SBA Disaster Programs – This is your main list of all the SBA programs available (there are other agencies with programs)
SBA Disaster Loan Assistance Online Application – This is the page I showed in the video. It is not the PPP program.