PAYCHECK PROTECTION PROGRAM
If you are a Small Business (under 500 employees), the Paycheck Protection Program provides your business with funds to pay up to 8 weeks of payroll costs including benefits. Also available are funds to pay interest on mortgages, rent, and utilities.
Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent and utilities. No collateral or personal guarantees are required. The government or lenders will not charge small businesses any fees.
Loan forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.
You can apply today (April 3) if you are a Small Business. You will need to apply quickly since funds are limited for this program. To apply and or for more information go to www.sba.gov or your local federally insured bank.