Payroll Protection Program Information
April 16, 2020
The Payroll Protection Program is designed to pay eight weeks of payroll, eight weeks rent, eight weeks utilities. And, if applicable, eight weeks of mortgage rent expense on commercial building and eight weeks of group coverage. The idea is to help businesses to retain or hire back employees so that they will be ready to roll when the “stay at home” orders are lifted versus no employees, no lights on, past due on rent and possibly lose your business location.
Potential loan forgiveness up to 75 percent of payroll and 25 percent of non-payroll eligible items...