What Is the Paycheck Protection Program from the CARES Act?
If you have watched the news in relation to the coronavirus’s impact on the American public, you may have heard about the CARES Act. The Coronavirus Aid, Relief, and Economic Security Act puts money into the country to help people to keep their jobs, pay bills, and avoid losing their homes. If you have lost the ability to work, you could reap some benefits from this act and others. In the meantime, learn as much as you can about the CARES Act and how to make money while in quarantine with the Giftloop app.
What Is the Paycheck Protection Program?
One of the provisions of this act is the Paycheck Protection Program (PPP) for small businesses. Through this and other parts, the Treasury Department has allowed for up to $349 billion to help small businesses and their employees.
The Paycheck Protection Program allows qualifying small businesses to take out federal loans to continue to pay their employees. You must apply for the loan by June 30, 2020, and have been in business since February 15, 2020. Employers who use this may bring furloughed employees back onto the payrolls, even if the workers cannot work at the business site due to the COVID-19 virus.
Money in the Meantime
If you work for a small business and your employer has filed for this loan, you may still be able to get a paycheck even if you cannot get to work. However, if your employer does not choose to participate or you must wait for your paycheck to come in, consider using money-making apps like the Giftloop app in the meantime.
This app turns your free time profitable by letting you earn while watching videos, taking surveys, and more. Whether you can work at the office, from home, or not at all during this unusual time, you can still make money from home through Giftloop on the Google app store.