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SBA Paycheck Protection Program loans: What you need to know
The U.S. government has set aside $349 billion of stimulus funds for the Small Business Administration’s Paycheck Protection Program—and more federal funds may be allocated toward it going forward. The goal is to help small-business owners and their employees ride out the COVID-19 pandemic and ensuing economic crisis. If small businesses maintain payroll throughout this difficult period, some of the money borrowed through the program can be forgiven.