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Help is on the way: The CARES Act is now law.
What you need to know about the latest financial relief program for your business and employees.
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Help is on the way! We know that many of our clients are struggling with business disruptions, making hard decisions every day about whether to lay off employees. This historic financial stimulus package is designed to help. Under the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act, small businesses will be able to quickly get a loan of up to $10 million to stay afloat while they are experiencing business interruptions due to COVID-19.

The loans must be used to pay your employees’ wages, benefits premiums, business rent and utilities (including gas, electric, water, telephone and internet) and will be completely forgiven (not required to be paid back) for up to eight weeks of those costs if you, as a business owner, continue to keep your employees, or hire back those who have already been laid off, and use the funds for covered expenses.

The CARES Act has passed and is now law, but many details remain. It’s important for you to understand that significant financial help is on its way if you can hold on for a little while longer. Learn more

Martin Mucci

President and Chief Executive Officer

Martin Mucci Paychex CEO

Martin Mucci assumed the role of president and chief executive officer on September 30, 2010. Under his leadership, Paychex has significantly expanded upon its foundation as a payroll services company to become a leading provider of integrated human capital management solutions for small and mid-sized businesses, growing to $3.8 billion in annual revenue and a market cap of more than $30 billion.

In Mucci’s time as president and CEO, Paychex has transformed into a technology-enabled service company. Combining innovative software-as-a-service technology with dedicated, personalized service, Paychex empowers business owners to focus on the growth and success of their business, instead of contending with the demands of payroll, HR, and benefits administration.

Mucci is a regular guest on CNBC’s Squawk Box and Bloomberg Radio where he discusses the state of small business in the U.S. according to the Paychex | IHS Markit Small Business Employment Watch, which provides a monthly snapshot of small business jobs activity and wage data. With a 91% approval rating, Mucci was named on Glassdoor’s 2019 list of the top 100 CEOs of large U.S. companies.

Mucci joined Paychex as senior vice president of operations in October 2002. In this position, he was responsible for all operations and customer service for the company’s payroll and human resource services clients, as well as the company’s product management and information technology functions. Prior to joining Paychex, he served as president of telephone operations for Frontier Communications, and CEO of Frontier Telephone of Rochester, N.Y. – both telecommunications services providers.

Mucci holds a bachelor’s degree in accounting from St. John Fisher College in Rochester, N.Y. and earned a master’s degree in business administration from the William E. Simon Graduate School of Business at the University of Rochester. Mucci is a member of the Upstate New York Regional Advisory Board of the Federal Reserve Bank of New York, the Greater Rochester Chamber of Commerce Executive Committee, and an advisory team for Madison Dearborn Partners, LLC, a leading private equity investment firm based in Chicago. A longtime United Way supporter, Mucci served as chairman of the organization’s Greater Rochester campaign in 2016.