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When You Should (and Shouldn’t) Use Payroll Protection Loans

April 3, 2020


With jobless claims hitting record highs, you might finally need to figure how to ask for help.

A portion of the Coronavirus Aid, Relief, and Economic Security (CARES) Act allocates $350 billion in government-backed loans for small businesses, under the Paycheck Protection plan. As a small business owner or sole proprietor, that means you can borrow money to help meet your payroll, pay your rent or mortgage, and cover your utilities.

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