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Today, the federal government opens the application period for the Paycheck Protection Program, an SBA 7(a) loan that helps businesses keep their workforce employed during the COVID-19 crisis.
On this morning’s WJR Business Beat, Jeff encourages struggling small business owners to apply, as the funding is on a first come, first served basis.
Small businesses with fewer than 500 employees that have been directly impacted by the coronavirus crisis may apply for this funding, at a one percent interest rate with no payments due for the first six months.
Listen below for more from Jeff:
For more information and application materials, visit sba.gov.
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Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of the Detroit area can listen live HERE.