|
Dear Friend,
The final day for businesses to apply for Paycheck Protection Program loans is June 30, so I wanted to share information in case you are a business owner who still needs to apply:
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
The Small Business Administration 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.
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program.
Implementing the PPP Flexibility Act, the Small Business Administration posted a revised, borrower-friendly PPP loan forgiveness application.
As always, follow my daily work on social media by liking my Facebook page and following me on Twitter, YouTube and Instagram and feel free to reach out to my offices in Florida or Washington, D.C. if my team or I can ever be of service.
In Service,
Michael Waltz |