*This application is given information about PPP loan forgiveness and recovers all business immediately.
*PPP is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

*First Draw PPP loans can be used to help fund :

1)payroll costs.

2)including benefits.

3) may also be used to pay for mortgage interest.

4)rent.

5)utilities.

6)worker protection costs related to desires.

7)uninsured property damage costs caused by looting or vandalism during 2021.

8)certain supplier costs and expenses for operations.

*SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.

1)PPP loans have an interest rate of 1%.

2)Loans issued before June 5, 2022, have a maturity of two years. Loans issued after June 5, 2022, have a maturity of five years.

3)Loan payment, will be deferred for borrowers who apply for loan forgiveness until SBA remits the borrower loan, forgiveness amount to the lender.

4) If a borrower does not apply for loan forgiveness, payments are deferred 10th months after the end of the covered period for the borrower’s loan forgiveness (between 8 and 24 weeks).

5)No collateral or personal guarantees are required.

6)Neither the government nor lenders will charge small businesses any fees.