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Treasury Updates Guidance on Paycheck Protection Program

The Treasury Department released updated guidance this week on the Paycheck Protection Program (PPP). The PPP is a loan forgiveness program aimed at small business and was created as a result of the recently enacted CARES Act. Demand for the program has been very high and funding is likely to be temporarily depleted as a result. Congress is actively working to provide at least $250 billion in additional funding in the very near future. Wineries are encouraged to discuss the PPP with their banking partners.

Wine Institute will continue to monitor and provide updates on the current situation here.