PPP (Paycheck Protection Program)

The Paycheck Protection Program (PPP) was a U.S. government initiative designed to help small businesses stay afloat during the COVID-19 pandemic. It provided forgivable loans to cover payroll, rent, utilities, and other essential expenses. The goal was to preserve jobs and ensure businesses could survive economic disruptions. If employers maintained their payroll and met certain criteria, the loans could be fully forgiven, effectively turning them into grants. The program was part of broader efforts to support the economy and stabilize small business operations during a challenging period.