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Re: Anyone familiar with the Senate Relief Bill?
[Re: jawbone]
#3082204
03/27/20 08:24 PM
03/27/20 08:24 PM
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Joined: Jul 2005
Posts: 19,128 Chelsea, AL
straycat
Old Mossy Horns
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Old Mossy Horns
Joined: Jul 2005
Posts: 19,128
Chelsea, AL
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What I do know is there are two different small business loans available that will help reduce layoffs and keep small businesses from suffering as much. 4% or less rate fixed for 10 years. The one passed and signed today has a full loan forgiveness portion if the loan is used for several specific purposes: paying salaries, paying contract workers, paying business rent, debt service or insurance...CPA to certify funds used and entire loan will be forgiven ...the available business loan is set at 2.5 months of total business salaries/wages paid based on last 12 months...4% loan for 10 years that can be forgiven if money spent in qualifying manner.
Cash flow is King right now. Every business needs cash flow even if a loan with great terms.
Last edited by straycat; 03/27/20 08:28 PM.
"The grass withers, the flower fades, But the word of our God stands forever." Isaiah 40:8
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