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We just passed the CARES Act in the US, which gives small businesses a loan about 2.5 X their average monthly payroll. It is fully forgiven if used for payroll,
by jasonjei 7y ago
We just passed the CARES Act in the US, which gives small businesses a loan about 2.5 X their average monthly payroll. It is fully forgiven if used for payroll, rent, or utilities in the first 8 weeks.
- rasz 7y agoExcept banks refuse to give you any loan.
- jasonjei 7y agoThat’s not true. The way it’s administered is an SBA loan, which have very specific guidelines banks must follow.
- rasz 7y agohttps://www.thestreet.com/investing/bank-of-america-changes-small-business-program-policy-after-criticism https://www.thestreet.com/investing/bank-of-america-changes-... might be getting better now