{"id":12896,"date":"2020-04-14T12:26:56","date_gmt":"2020-04-14T16:26:56","guid":{"rendered":"https:\/\/www.method.me\/?p=12896"},"modified":"2026-01-13T07:48:29","modified_gmt":"2026-01-13T12:48:29","slug":"quickbooks-paycheck-protection-program","status":"publish","type":"post","link":"https:\/\/www.method.me\/blog\/quickbooks-paycheck-protection-program\/","title":{"rendered":"QuickBooks paycheck protection program: what you need to know"},"content":{"rendered":"\n

During the whirlwind that COVID-19<\/a> has been, many of us have heard about the paycheck protection program but may not fully understand it.  <\/p>\n\n\n\n

A result of the Coronavirus Aid, Relief, and Economic Security (CARES) Act<\/a>, the paycheck protection program\u2019s goal is to help small businesses pay and retain their staff during COVID-19.  <\/p>\n\n\n\n

By offering 8 weeks of funding to small businesses through loans or grants, the paycheck protection program aims to keep people employed and small businesses afloat during this time.  <\/p>\n\n\n\n

The challenge, however, is the time it takes for small businesses to receive these government-backed loans through banks and the Small Business Administration (SBA). <\/p>\n\n\n\n

With nearly 50%<\/a> of American small businesses having a cash reserve that will last 2 weeks or less, fast access to aid relief and economic stimulus loans are crucial. <\/p>\n\n\n\n

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\u201c50% of American small businesses have a cash reserve that will last them only 2 weeks.\u201d<\/em><\/strong><\/p>\nJPMorgan Chase, 2019<\/cite><\/blockquote>\n\n\n\n

This is why companies like Intuit QuickBooks<\/a> have stepped up to reduce the time it takes for small businesses to receive funds from the paycheck protection program. <\/p>\n\n\n\n

QuickBooks was named as a direct lender by the SBA, giving them the power to accept, approve, and fund paycheck protection program applicants. <\/p>\n\n\n\n

How the QuickBooks paycheck protection program works <\/h2>\n\n\n\n

The QuickBooks paycheck protection program is open to all QuickBooks Payroll and Self-Employed TurboTax customers. The program automatically processes the payroll information small businesses need to submit so the funding and application process is simpler and faster for small business owners. <\/p>\n\n\n\n

How to prepare for the QuickBooks paycheck protection program<\/h2>\n\n\n\n

With funds for the QuickBooks paycheck protection program drying up fast, here’s what you can do to prepare for the next round of QuickBooks Capital loans. <\/p>\n\n\n\n

Get your documents in order<\/h3>\n\n\n\n

To apply for the QuickBooks paycheck protection program, you\u2019ll need:<\/p>\n\n\n\n