Between February 15, 2020 and ending on June 30, 2020, the Administration (SBA) provides complete payment deferment relief for impacted borrowers with a loan for a period of not less than 6 months and not more than 1 year. This includes the payment of principal,...
Nonrecourse – The Administration (SBA) has no recourse against any individual shareholder, member, or partner of an eligible recipient of a covered loan for nonpayment of any covered loan UNLESS it is used for a purpose not authorized. No Guarantee –...
the compensation of an individual employee’s in excess of an annual salary of $100,000 as prorated for the period beginning on February 15, 2020 and ending on June 30, 2020; taxes imposed or withheld under FICA (Social Security and Medicare),...
salary, wage, commission, or similar compensation; payment of cash tip or equivalent; payment for vacation, parental, family, medical or sick leave; allowance for dismissal or separation; payment required for the provision of group health care benefits, including...
Between February 15, 2020 and ending June 30, 2020, eligible recipients can use the proceeds from the loan for: payroll costs; costs related to the continuation of group health care benefits during periods; of paid sick, medical, or family leave, and insurance...
