Skip to content

Constant Counsel

PNG Header Logo Constant Counsel
Home » Blog » Paycheck Protection Program (PPP) Loans

Paycheck Protection Program (PPP) Loans

Spread the love

With great challenges come great opportunities.

There is an abundance of information out there regarding programs for businesses. To all my clients, from the restaurant owners to the family-owned appliance stores, the education companies to the real estate developers, here are some highlights on the Paycheck Protection Program which provides 100% federally guaranteed loans to small businesses.

  1. For businesses with less than 500 employees
  2. Loan amount: up to 2.5 average monthly payroll up to $10M
  3. Loan must be used to retain workers or make lease/utility payments
  4. Loan may be forgiven if borrowers maintain their payrolls during crisis or restore after
  5. Can’t have a loan application already pending
  6. A personal guarantee is not required for the loan – or collateral.

I’m attaching the U.S. Chamber of Commerce infographic for further information.

Be well.

Isabel

Leave a Reply

Your email address will not be published. Required fields are marked *