The Federal Covid-19 Emergency Loans and Paycheck Protection Program passed by Congress allocates $349 billion dollars to help small businesses! The attorneys at Schlissel DeCorpo, LLP can help you apply for this program. If you need the money you should apply immediately! The application period expires on June 30, 2020. However the program may run out of money sooner so you should be applying immediately.
The program includes:
- No collateral
- No personal guarantees
- Low interest rates
- Costs for payroll, mortgage, rent, utilities and healthcare deducted from loan amount and NOT REPAID
- Independent contractor wages included as payroll expenses
- Payroll tax holiday, 2020 payroll due in 2022 but 50% due by end of 2021
Eligibility:All businesses with fewer than 500 employees.
Amount of loan: Up tp 2.5 times average “payroll costs” for one year before the loan is taken.
Contact Nathan DeCorpo, Esq at (800) 344-6431 or email him at Ndecorpo@sdnylaw.com for a free consultation. The government wants to provide you with funds to keep you in business. Let us help you accomplish this goal.