- by Victor Cabilla
- 4 min read
Self-employed’s / separate Contractors: “we do not have payroll nor workers, can we get an item of that monetary relief?”Paycheck Protection Program: “Yes, you will!”
To date, one-man shop business owners and separate Contractors can use for monetaray hardship relief through the SBA’s $349 Billion Paycheck Protection Program that is potentially forgivable loan. This program, which started an earlier on april 3rd, was initially only open only to applications from businesses that had had payroll and employees up until at least week.
PPP loans can be purchased in amounts as much as the lower of two . 5 months of payroll expenses. Here you will find the information on the PPP:
What size that loan can eligible companies get? Loans could be the lower of two . 5 months of payroll expenses (predicated on a yearly 1800 title loans average regarding the year before the loan origination date or calendar year) OR $10 million. Continue reading