Do you know what P.P.P stands for ?
April 3, 2020
Do you know what PPP stands for?
On Friday, March 27, 2020, the President signed the CARES Act into law. The bill provides for $2.2 trillion in emergency aid to ease the financial impact of the COVID-19 crisis, including $349 billion for new, partially forgivable small business loans to cover, among other things, certain payroll costs, mortgage interests, rents and utilities payments. The Paycheck Protection Loans, which we call PPP loans, will charge interest at no more than 4% and will be administered by the Small Business Administration (SBA). Payment of interest, principal and fees will be deferred for at least six months but not more than 1 year. As the program’s name implies, PPP Loans are designed to provide cash to small businesses, including sole proprietors and independent contractors.
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Best regards
und viele Grüße aus Charlotte
Reinhard von Hennigs
www.bridgehouse.law
und viele Grüße aus Charlotte
Reinhard von Hennigs
www.bridgehouse.law