Page 126 - Fear Unmasked Flipbook

FEAR UNMA S KED

months of payroll. Sounds pretty good right? This
will be the lifeline you need as a small business owner
to get through this crazy time. So how do you actually
get this money into your hands? First let’s dive into
what options are available to you.

1. Paycheck Protection Program (PPP)
This is the loan that will be given to business owners

in order to cover the cost of their payroll for two and
half months! This amount is determined by taking
the employer’s average payroll cost from February 15,
2019 to June 30, 2019—being capped at 10 million
dollars. The best part? This loan is automatically
forgiven, meaning that you do not need to repay
this loan in any way shape or form as long as your

workers remain employed. It is also retroactive as
far back as February 15, so that employees who have
already been laid off are able to be brought back onto
a company’s payroll.
Keep in mind that the money given to you from
the Payroll Protection Program must be used to pay
your employees. That money is not there for you to
remodel your kitchen or buy a new work truck.

To apply for PPP:
1. Go to your local SBA Approved bank make
sure that you are working with 7A lending

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