Overview of the Paycheck Protection Program

The federal government created the Paycheck Protection Program (PPP) in 2020 as part of its coronavirus relief legislation in the hopes of keeping employees on organization’s payrolls. Almost a year later, the program is still going strong with a fresh round of loans that just became available. This episode focuses on the details of the PPP and what organizations need to know if they are considering a PPP loan. In March of 2020, when the pandemic was just starting to grip the U.S., the federal government passed the CARES Act as its first piece of relief legislation. Included in that bill was the Paycheck Protection Program (PPP), a loan program designed to help organizations keep staff on their payrolls. It turned out to be hugely popular, and a year later it’s still going strong, with a new round of loans available as well. This episode of EB and Flow is dedicated to understanding the PPP and what organizations need to know if they are considering a loan. Eide Bailly Principal Adam Sweet walks through the history of the program and common questions organizations have about the PPP.