The U.S. Small Business Administration (SBA) issued an Interim Final Rule with respect to the Paycheck Protection Program (PPP) loan. In this rule, the SBA confirmed that the PPP loan applications will be processed on a first-come, first-served basis. We encourage you to contact your lender and submit an application at your earliest convenience if you plan on participating in this loan program. Please note that the Interim Final Rule also increased the previously publicized interest rate on the loan from .5% to 1.0%.
The U.S. Department of Treasury issued additional guidance regarding the Paycheck Protection Program. Links to the resources provided by the Treasury can be found below or on their webpage.
Click Here to see the lasted FAQ’s released April 8 2020
Jennifer Maher
Chairwoman, the Putnam County Business Council, “A business advocacy group”
Putnam County Business Council
P: 845-228-8595
F: 845-445-6592
info@putnamcountybusinesscouncil.com
