Does PPP have you c-o-n-f-u-s-e-d? You're not alone. We hunted down an expert to answer your most burning questions. Oliver Smith is prepared to ask for forgiveness. The veteran jewelry designer and owner of two Oliver Smith Jeweler stores—in Scottsdale, Ariz., and Aspen, Colo.—was among thousands of store owners and independent retailers to land a Paycheck Protection Program (PPP) loan in 2020 from the federal government’s Coronavirus Aid, Relief, and Economic Security or CARES Act. As the COVID-19 pandemic battered the American economy last spring, the U.S. government offered PPP loans to help businesses retain employees and stabilize a jittery marketplace. “Bound and determined” to continue paying his 15-member team as store traffic declined upward of 80%, Smith applied in April to ease the financial burden and received funding by mid-month. Provided a business own