The Small Business Administration has released some basic guidelines for the Paycheck Protection Program for small businesses to help keep their employees employed. The PPP is being administered by the SBA and is a loan that you may not need to pay back if you use the proceeds to cover payroll costs, mortgage interest, rent and utility costs over the 8 weeks period after the loan is made. There are many requirements yet to be determined, so please read PPP Information and seek the advice of a professional. Talk to your local lender or visit www.sba.gov for a list of SBA lenders. The Paycheck Protection Program will be available through June 30, 2020.
If you want to apply for funding you can download an application here.
