As part of the Coronavirus Appropriations Act (CAA), an additional $284 billion is now available to qualifying organizations through the Paycheck Protection Program (PPP).
Organizations 300 employees or less must apply by March 31, 2021. Those who qualify for the second round of funding under PPP can put up to 40% of those funds toward non-payroll expenses–including cloud software like Paylocity.
The new guidelines make it easier for businesses to obtain a first-draw PPP loan and even a second-draw loan to be used for eligible payroll and none -payroll expenses, including payroll and HCM software to digitize operations and support touchless, mobile-friendly workforce solutions.
Click here for a deeper dive into what your clients can use these PPP funds for. Time is running out, so please don’t hesitate to reach out to me to help clients with the PPP-2 applications and to have conversations about upgrading the HCM solutions today!
Reach out if you want to chat at 317-409-9087 and via email email@example.com