Is this real? Yes.

To the point: any American small businesses, qualified nonprofit organization, sole proprietorship, independent contractor, or self-employed individual that was in operation on February 15, 2020 and has 500 employees or less is eligible for up to a $10 million loan (up to 2.5x average monthly payrolls) made under section 7(a) of the Small Business Administration.

Any portion of the loan amount that is solely used to pay employee salaries, utility bills, rent, or mortgage interest for the period of 8 weeks after loan origination date will be forgiven. If you are worried about not being able to pay employees, apply for a loan and rest easy knowing your business will not crumble in the short term due to keeping your people paid. You will not have to pay back the forgiven amount of the loan.

The COVID-19 pandemic and resulting government reactions affected millions of people around the world in many different ways. Today, the United States Government signed into law a relief package to provide emergency assistance and health care response for American individuals, families, and businesses affected by the pandemic.

The Act may be cited as the "Coronavirus Aid, Relief, and Economic Security Act" or the "CARES Act". The loan forgiveness section is labeled the "Paycheck Protection Program".

This site will aim as a resource specifically for American employers looking for information on how to take advantage of the Act to help their employees and potentially save their businesses.

Visit the links at the top of the page to learn more.

This lawyer's site has an extensive FAQ. Paymyemployees.info is simply meant as a quick starting point. I am not a lawyer. Contact me.