Description
- Loan program to small businesses through 7(a) lenders (including the local banks listed below) to maintain employee payroll and cover rent or mortgage, utility payments, and pre-existing debt.
- Loan can be up to 2.5x of an employer’s average total monthly payroll cost during the period of February 15th, 2019 to June 30th, 2019.
- Employers that maintain payroll for 8 weeks may be allowed to have all or part of the loan forgiven.
- More information: https://www.sba.gov/funding-programs/loans/paycheck-protection-program