HOW DOES IT WORK?

"The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis."

This loan was made for you!

1% INTEREST

Fixed, with 5-year maturity

NO COLLATERAL REQUIRED

Not even a personal guarantee

5 YEAR MATURITY

Loans issued after 5 June 2020

8- or 24-WEEK ALLOCATION PERIOD

Forgiven if used as required

10 MONTH DEFERRAL

For loan payments

LOAN FORGIVENESS

  • If funds are used for:​

    • Payroll costs ​

    • Interest on mortgages

    • Rent

    • Utilities

  • Based on employer maintaining salary levels (inclusive of rehires)

  • Reduced if full-time headcount declines or salaries/wages decrease

  • Balance after, turns in to a loan

Pencil and notepad
60% of forgiven amount MUST be used for payroll