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Catering, Vending and Cooking For The Masses. this forum is OnTopic. A resource to help with catering, vending and just cooking for large parties. Topics to include Getting Started, Ethics, Marketing, Catering resources, Formulas and recipes for cooking for large groups.


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Old 07-14-2020, 07:48 AM   #1
Mikhail
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Join Date: 06-27-15
Location: Cincinnati OH
Name/Nickname : Mik
Default Paycheck Protection Program Extended

Got this from my bank and thought I'd pass it along to any small business owners.

For Small Business Owners:

Congress recently approved an application deadline extension for the Paycheck Protection Program from June 30 to August 8, 2020.

Accepting new applications through July 29.

Other recent term changes could potentially forgive more expenses incurred by businesses impacted by COVID-19, such as:
24 weeks of costs that may be eligible for forgiveness
Only 60 percent of the forgiveness amount must be used for payroll. The rest can be used for non-payroll costs (e.g., mortgage interest, rent and utilities)
A longer, 5-year repayment term for any funds not forgiven
Additional time for returning to pre-COVID levels of employment and exemptions
Where can I go to learn more?

For specific guidance regarding eligibility, please visit the SBA1 and the U.S. Treasury Paycheck Protection Program websites. To get answers to commonly asked questions, please visit usbank.com/ppp.
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