Greenville, SC (WSPA) – Common Sense Retirement Planning financial expert Tony Dale said it’s important for small businesses in our area to know how to use the latest payroll protection plan to their advantage. .
Dale said the most important thing is that the money is forgivable if 60% of the money a business uses is used for payroll.
They can also use 2.5 times their monthly payroll total.
It is also possible for a small business to take out another loan if the money is not enough.
Dale lays out some facts about the new small business aid.
This second stimulus package devotes $ 284 billion to the paycheck protection program by providing federal forgiveness loans to hard-hit small businesses. It doesn’t matter if you received a PPP loan earlier in 2020. You can always apply now. Borrowers can get loans up to two and a half times their average monthly salary expenses. To qualify …
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