Paycheck Protection Program

Date: April 1, 2020

The SBA has issued some details and sample applications for the Paycheck protection program.

Business applications are suppose to be available Friday April 3.

You will need to certify that your business has been impacted by the virus.

Loan amounts are 2 months of last years payroll plus 25%

Forgiveness will be for payroll and some overhead expenses paid 8 weeks after the loan is provided.

Unforgiven amounts are due within 2 years, however no payments are due for the first 6 months.

Be in contact with your bank on how to apply with them.

You can prepare by looking at the sample application and fact sheet. SBA link is below

Please click below for the application for the SBA’s Paycheck Protection Program.

Please click below for the information sheet regarding the program.