Update on Small Business Administration Paycheck Protection Program (PPP) and Other Disaster Recovery Loans
Last Friday, April 24, 2020, President Donald Trump signed the next coronavirus relief bill providing another $310 billion in funding. The Paycheck Protection Program (PPP) loans feature forgivable 1% interest loans for companies with up to 500 employees. The loans are forgivable if certain payroll payment conditions are met totaling at least 75% of the money lent.
If you have not applied, Google your bank and call your business contact. Apply today as funds will run out quickly.
We’d like to share an exceptional webinar featuring Al Titone, SBA District Director sponsored by the New Jersey Business Industry Association (NJBIA) on the topic for those who want to know more on this topic.
‘‘A Business Owner’s Guide to Loans’, Al Titone, SBA District Director of New Jersey, joins Robbin Caruso and Edward Rigby (of Prager Metis) to demystify the SBA Loan process. Titone discusses key features of the loans available to the business community.
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