Paycheck Protection Program

The Department of Treasury has released the Paycheck Protection Program (PPP) application and supplemental information including their accompanying borrower guide, all available on their website, https://home.treasury.gov 
Funds from this program:
  • Can be used for employee salaries under $100,000, paid sick/medical leave, insurance premiums as well as mortgage, rent and utility payments
  • Are generally 100% forgivable if used for the above purposes; and
  • Are available to businesses or 501(c)(3) nonprofits with less than 500 employees including sole-proprietors, independent contractors, and other self-employed individuals.
  • Loan Amounts up to $10 million, Term 2 years, Interest rate 0.50%
  • Loan payments deferred for minimum 6 months and up to 1 year
  • No collateral or personal gurantees
  • Eligible for loan forgiveness

For more information regarding PPP SBA Loans;
If you need help finding selling your business, property or finding a new location for your business, please contact James Han at [email protected] for free consulting.  

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