• Don't wait. $350 billion has been allocated for this program, and yes, it is a lot of money. But many businesses across the nation will be applying for it. Be sure to apply tomorrow or as soon as possible.

• You do not have to visit any government institution to apply for the program. All you have to do is apply at an approved lending institution.

• Keep your staff on payroll or rehire them to have loans forgiven. These loans can be forgiven if you maintain your payroll. This program is retroactive to February 15, 2020 to encourage the rehire of any previously laid-off employee. 

• Non-payroll expenses can be forgiven. Loans can be forgiven up to the amount of the loan equal to the sum of expenses for payroll, and existing interest payments on mortgages, rent payments, leases, and utility service agreements. 

• Forgiveness covers expenses incurred during an eight-week period beginning with the origination of the loan. Borrowers are eligible for loan forgiveness equal to the amount the borrower spent on the following items during the 8-week period beginning on the date of the origination of the loan: covered payroll costs (more information on covered payroll costs below), interest on mortgage obligations, rent and utilities.