News

Forgivable loans through the Paycheck Protection Program
Published Tuesday, March 31, 2020 6:00 pm

The Small Business Administration and Treasury Department release information regarding the CARES Act and the new $349 billion Paycheck Protection Program. Read the full release here.

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

SBA 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.

Treasury and the Small Business Administration expect to have this program up and running by April 3rd so that businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day. The Paycheck Protection Program will be available through June 30, 2020.

Sample applications and more details can be found here.


Send this page to a friend

Show Other Stories

FOR ANY INQUIRIES,
PLEASE CALL OR EMAIL US:

Office: (707) 545-1414
Fax: (707) 545-6914

OUR ADDRESS

Santa Rosa Metro Chamber
50 Old Courthouse Square
Suite 110
Santa Rosa, CA 95404

CONTACT US

SITE MAP
SITE MAP
Back to top