SBA Paycheck Protection Program

Forgivable loan to companies that maintain payroll in the coming weeks.

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.