3 of 3 people found this helpful
I can confirm that an email has not been sent yet.
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For those that have seen the sample application..what does number of Jobs mean?
Average Monthly Payroll: $ X 2.5 equals Loan Amount: $ Number of Jobs:
Good point, Taca!
Which website? This Small business community site or our regular account page?
I have been a small business customer for over 15+ years, so I really hope I get the email today. Thank you for the information. I appreciate it!
Probably number of employees you will be keeping employed by using the loan.
Yeah, so whatveer portion is not used for the things that that money is intended for will not be forgiven - payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll)
Also another thing to think about are the taxes that will be owed since the amount that you have to figure out excludes payroll taxes and income taxes.
This .pdf from the US Chamber of Commerce does a good job breaking it all down - https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final.pdf
I believe it’s how many employees on payroll you have.
The loan is forgiven as long as the funds are used as described by the
After termination which is for 2 months whatever funds where not used for
Payroll, Rent or Utilities has to be paid back or you can keep as a loan @
.5% interest and 2 year repayment term.
On Thu, Apr 2, 2020 at 3:25 PM whitewolf <