If Covid has affected your business and you do't have enough cash to pay your employee then there a good news for you. USA Government has issued a PPP check program from by using that fund you can pay your employee salary.
Last date for Applying paycheck protection program.
you can submit the Application up to Aug 08,2020
How you can take the benefit of PPP program.
If you are find ineligible then you would pay PPP loans an interest rate of 1%.
Those PPP issued prior to June 5 have a maturity of 2 years. Loans issued after June 5 have a maturity of 5 years.
Loan payments will be deferred for borrowers who apply for loan forgiveness until SBA remits the borrower's loan forgiveness amount to the lender. If a borrower does not apply for loan forgiveness, payments are deferred 10 months after the end of the covered period for the borrower’s loan forgiveness (either 8 weeks or 24 weeks).
No collateral or personal guarantees are required.
Neither the government nor lenders will charge small businesses any fees.
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