Last week, the federal government rolled out its CARES Act — the Coronavirus Aid, Relief, and Economic Security Act — which will pump $2 trillion into the American economy in an effort to mitigate the economic downturn caused by the coronavirus pandemic.

Part of the Act, a loan program called the Paycheck Protection Program (PPP) has piqued the interest of small businesses across the country as an option to bridge financing through the end of the pandemic, when the U.S. economy is expected to swing back up.

The plan includes $349 billion set aside for small business loans intended to cover payroll. Its goal is to help small businesses (500 employees or fewer) stay afloat and keep their people employed through the duration of the pandemic.

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