How can I avoid laying off employees?

On March 27, 2020, a $2 trillion stimulus bill was signed into law. The bill covers a lot of different areas, each aimed at helping American individuals and businesses through the severe economic downturn brought on by COVID-19.

Included in the bill is money aimed at keeping workers on payrolls; a tax credit for idled workers’ salaries up to $5,000 per employee. Another measure allocates funding to the Small Business Administration to provide low-interest, disaster relief loans: the Payroll Protection Program (PPP), and the Economic Injury Disaster Loan (EIDL).

Section 1102(a)(2)(G) alludes that it’s possible to qualify for both programs, as long as you verify that the funds from each have been used to pay for different things. The PPP is intended primarily for payroll, and the EIDL for other business expenses.