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The article describes this as a lending program, which is misleading. The SBA Paycheck Protection Program straight-up gives free money to cover small business (
by Meekro 7y ago
The article describes this as a lending program, which is misleading. The SBA Paycheck Protection Program straight-up gives free money to cover small business (less than 500 employees) payroll for 2 months. All the business has to do is not fire anyone in the meantime.
"SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities." [1]
[1] https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp https://www.sba.gov/funding-programs/loans/coronavirus-relie...