LogFAQs > #936480429

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Topic	Coronavirus Topic 5: rNaught Your GrandDaddy's Virus
Samurai7 03/30/20 12:22:08 PM #476:	Well some great news for small business owners! The SBA PPP business loan is amazing imo. Any business under 500 employees can apply for it. I have an annual payroll of about 200k. You get up to 2.5x last years payroll as a loan. So I can loan 500k. Any amount of that 500k that I use for payroll, employee health care, utilities, mortgage interest, or my own salary up to 100k by June 30th will be completely forgiven come Jan 2021. The remaining balance becomes a 10 year loan at 4% interest. This means even if I have to close down I can keep paying my employees their full payroll amount until June 30th even if they don't work. --- Conformity and rebellion...both ways are simple-minded--they are only for people who cannot cope with contradiction and ambiguity. <cite>Samurai7 posted [p:936480429] in Coronaviru... [t:78500532]...</cite> <quote>Well some great news for small business owners! The SBA PPP business loan is amazing imo. Any business under 500 employees can apply for it. I have an annual payroll of about 200k. You get up to 2.5x last years payroll as a loan. So I can loan 500k. Any amount of that 500k that I use for payroll, employee health care, utilities, mortgage interest, or my own salary up to 100k by June 30th will be completely forgiven come Jan 2021. The remaining balance becomes a 10 year loan at 4% interest. This means even if I have to close down I can keep paying my employees their full payroll amount until June 30th even if they don't work. --- Conformity and rebellion...both ways are simple-minded--they are only for people who cannot cope with contradiction and ambiguity.</quote> ... Copied to Clipboard!
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