Exhausted Your Cares Act Paycheck Protection Program Options? Main Street Lending Can Provide Additional Liquidity
Published by
Laura Sprouse
on
APRIL 28, 2020
One of the most highly publicized relief options in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that small businesses and sole proprietors have benefited from is the Paycheck Protection Program (PPP). The PPP authorized $349 billion to be disbursed via federally guaranteed loans administered by the Small Business Administration (SBA). Even for small businesses that have been (or will be) granted loans under the PPP, it is likely that many will still face major liquidity challenges after eight weeks. The unfortunate reality leaves businesses looking for other potential avenues for cash to stabilize, maintain or continue operations. Fortunately, there are other options available.
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