Paycheck Protection Program application now available

Paycheck Protection Program application now available

The Department of Treasury has released the  Paycheck Protection Program application and supplemental information. The lender guide lists accountants as approved agents of loan applicants. 

AICPA and GWSCPA strongly recommend that members immediately:     

  • Review all four documents listed under the “Assistance for Small Businesses” section;     
  • Share the application and  accompanying borrower guide with their clients ASAP; and     
  • Contact your banker to ensure they are aware of program requirements. 

The funds from this program:  

  • Can be used for employee salaries under $100,000, paid sick or medical leave, insurance premiums, and mortgage, rent and utility payments;     
  • Are 100% forgivable if used for the above purposes; and
  • Are available to businesses or 501(c)(3) nonprofits with less than 500 employees, including sole-proprietors, independent contractors, and other self-employed individuals.