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Paycheck Protection Program Loans Go Live Today

News item

Paycheck Protection Program Loans Go Live Today

Posted: 04/03/2020

As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the U.S. Small Business Administration is launching a new loan program to support local businesses. Under the program, companies may qualify for a loan of up to $10 million for two years at 1%. Under certain circumstances, if you maintain your workforce, portions of the loan may be forgiven. Applications may be submitted starting today and must be received by June 30, 2020.

For more information, visit the SBA’s Coronavirus funding options website.

For more assistance or resources, visit the Metro Chambers’ Coronavirus Rapid Response Website.

For the latest news and information for Elk Grove businesses, visit us at elkgrovecity.org/covid19biz.

For the latest coronavirus updates or other helpful resources, visit the City’s website at elkgrovecity.org/coronavirus.

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