The Paycheck Protection Program (PPP) is a $670 billion loan program established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law in March 2020, in an effort to minimize the economic impact of the COVID-19 pandemic on U.S. businesses and employees. The purpose of the Paycheck Protection Program is to provide an incentive to business owners to retain their workforce during COVID-19 by offering low-interest, forgivable loans to cover payroll costs and other eligible business expenses. Click for Paycheck Protection Program information.