CODIV-19 is undeniably taking a toll on our economy, but we are here to help. The PPP loan is created to specifically help small businesses maintain their workforce during these times.
Who’s eligible?
- Any business, non-profit organization, veterans organization, or Tribal business concern with less than 500 employees or meets SBA’s industry size standard
- Sole proprietors, independents contractors, and self-employed persons
How does this program work?
- 75% of the loan must be used for payroll costs, interest on mortgages, rent, and utilities for the loan to be forgiven
- Loan forgiveness will be reduced if the employer reduces full-time employees or wages.
This program is especially useful for small businesses and their employees. We are here to help you through these challenging times. For more information and for any questions please contact us.
Marolt LLP 