Following the global outbreak of COVID-19, businesses have been offered two main avenues for economic support: the Paycheck Protection Program Loans (PPP) and the Employee Retention Credit (ERC). This article aims to offer a comprehensive overview of ERC Services, evaluate their advantages and disadvantages, and address the common queries business owners have regarding the eligibility for both the ERC and PPP.
The CARES Act, a legislative measure, created a loan initiative known as the Paycheck Protection Program (PPP), which is overseen by the U.S. Small Business Administration (SBA). This program aims to assist small business proprietors who have faced financial hardships due to the COVID-19 pandemic. It allows them to request loans of maximum $10 million to cover various qualifying expenses, including but not limited to payroll expenditures.
The CARES Act, a legislative measure, created a loan initiative known as the Paycheck Protection Program (PPP), which is overseen by the U.S. Small Business Administration (SBA). This program aims to assist small business proprietors who have faced financial hardships due to the COVID-19 pandemic. It allows them to request loans of maximum $10 million to cover various qualifying expenses, including but not limited to payroll expenditures.