Description

End Result

An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Here is the link you need: https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp

Why It Matters

SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The Paycheck Protection Program will be available through June 30, 2020.

How You Can Help

Learn More

https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19. Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries. Small businesses in the hospitality and food industry with more than one location could also be eligible at the store and location level if the store employs less than 500 workers. This means each store location could be eligible.