Coronavirus (COVID-19) Help Center

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Securing Your Finances During COVID-19

The priority is to keep your business open, and that requires having sufficient funds in place. Take advantage of applicable loan options, business credits, and other financial programs that can help you at this critical juncture of the coronavirus pandemic.

A business owner using the PPP loan forgiveness estimator

PPP and Loan Forgiveness

A Paycheck Protection Program (PPP) loan can help you keep employees on payroll, bring back those you furloughed, and cover certain overhead costs. PPP loans may be forgiven if funds are used on eligible covered costs.

Estimate Your PPP Loan Forgiveness
An employee working at a grocery store

Employee Retention Credit

A refundable Federal tax credit against employer payroll taxes for businesses that complied with government order to partially or fully suspend operations, or recognized significant reduction in gross receipts but retained their employees.

Eligible employers can:

Take a refundable credit of 50% of qualified wages/health plan expenses up to $10,000 per employee against applicable employment taxes.


  • Employer can’t receive the credit if they receive a PPP loan from the SBA
  • Credit can’t be taken on any wages previously accounted for in a WOTC or Emergency Paid Sick Leave Credit
Read about the Employee Retention Credit
Looking at the payroll tax deferral period

Payroll Tax Deferral Period

Employers can defer payment of applicable employer payroll taxes (employer portion of Social Security) incurred from March 27, 2020 – Dec. 31, 2020.

How deferred repayments are split and paid

  • 50% due Dec. 31, 2021
  • 50% due Dec. 31, 2022

Deferring payment of employer payroll taxes

Employers can now defer or continue to defer payment of the employer share of Social Security taxes even after PPP loans are forgiven.

State Unemployment Insurance Tax Credit

Some states have enacted legislation that provides employers with a SUI tax credit if they paid their first-quarter SUI contributions on or before a specific date. The credit amount equals the amount of first-quarter 2020 contributions paid by the employer and is applicable to second-quarter 2020 SUI contributions.

Contact Your State’s Unemployment Insurance Office

Other Funding Options

You and your accountant might determine there are better courses of action to obtain financing based on your business and industry needs.

Business Financing Options

Term loans

Depending on the amount financed, loans can be either short-term or long-term, and can generally be secured from any lender.

SBA loans

Small businesses that don’t qualify for traditional small business financing may find other opportunities through SBA loan programs. 

Main Street Lending Program

Established by the Federal Reserve to support lending to businesses that were in sound financial condition before the onset of COVID-19.

Business lines of credit

Monthly payments and interest are determined based on how much of the open line of credit you use.


Paychex Promise

Get the ultimate peace of mind for your business — payroll funding services to help you pay employees during and after the pandemic. 

Payroll Protection

We provide you the flexibility to extend the collection of payroll funds from your bank account by up to seven days without interruption of services or insufficient fund charges.

Business Credit Service

Paychex sends payment history to credit bureaus with the goal of building your business credit file and improving your ability to secure attractive financing terms.

Learn More about the Paychex Promise

We have solutions that can support you during COVID-19, and beyond

Live and recorded webinars

Available in English
August 7, 2020
2:00 p.m. - 3:00 p.m. ET

The COVID-19 pandemic has unquestionably had a major impact on the financial lives of many Americans. A 401(k)-retirement plan can help you build financial security for yourself and your employees and create a more productive and engaged workplace.

Watch this on-demand webinar with HR technology experts to understand how you may need to adapt your organizations to keep operations running, meeting new requirements, and ensure worker safety.
Businesses today are facing challenges they never could have anticipated as a result of the COVID-19 pandemic: mandated closings, travel restrictions, and increasing liability concerns, to name a few. View this recorded webinar to learn how to prepare your business for the increase in COVID-19 cases and address potential rollbacks and travel restrictions.

Articles to help business during COVID-19 pandemic

Available in English
Considerations for New Jersey Employers While Preparing to Bring Employees Back to Work This is not an exhaustive list. It is an addendum to the Paychex Return to Work Checklist.
For many reasons, maintaining good mental health is an important component for driving quality of life. Disorders, such as depression, can take a toll on individuals, affecting everything from their immune system to their sleep and interpersonal relationships.
The business challenges stemming from the current COVID-19 pandemic require employers to balance health and safety issues while continuing to provide their products and services to customers. Companies must also take steps to protect their employees, including the most vulnerable workers, who cannot be treated differently than others without their agreement.
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Paychex is committed to providing resources to the Spanish-speaking community. To ensure we are providing the most up-to-date and accurate information, some content on this website will be shown in English, and will be provided in Spanish when available.