• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • About
  • Forum
  • Design Studio
  • Upholstery Jobs
  • Newsletter
  • Sponsors

The Hog Ring

Auto Upholstery Community

  • Facebook
  • Instagram
  • Twitter

Deadline Approaching for Forgivable Coronavirus Loans

June 22, 2020 By Nadeem Muaddi 1 Comment

The Hog Ring - Deadline Approaching for Forgivable Coronavirus Loans

The deadline to apply for a forgivable “Paycheck Protection Loan” is quickly approaching. Apply before it’s too late!

To counter the economic downturn caused by the coronavirus pandemic, the U.S. federal government is offering forgivable loans to small businesses.

The loans are part of the “Coronavirus Aid, Relief and Economic Security Act,” or CARES Act, which President Donald Trump signed into law on March 27.

Under the law, small businesses may apply for a “Paycheck Protection Loan” that is forgivable so long as certain conditions are met.

The interest rate is only 0.5 – 1.0% on a two-year loan backed by the U.S. Small Business Administration (SBA) and Department of Treasury. Small businesses are allowed to borrow up to 250% of their monthly payroll, rent and other expenses — but the total loan amount cannot exceed $10 million.

Here’s the best part: The SBA will forgive the portion of the loan used for payroll, rent, mortgage interest and utilities for a period of eight weeks if a small business keeps all its employees and maintains their payroll levels.

Basically, it’s free money. The federal government is offering to cover your business’ overhead if you agree not to layoff employees or dock their salaries during this health crisis.

But you have to apply by June 30 to take advantage of the relief program.

For more information: Visit the SBA website.

Filed Under: Archive, Better Business Tagged With: Auto Trim, Auto Upholstery, Car Interior, Coronavirus

Reader Interactions

Comments

  1. Jerry Klich says

    June 26, 2020 at 7:28 pm

    But if you are an S Corp and do not take a pay check. You can’t file, even to cover your expenses

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

THR Sponsors

Haartz Right Rail Ad - 12
NC Sewing Machines
Miami Corporation
Top Down Group
Apex Leather
  • Keyston Bros
  • GAHH Automotive
  • Douglass Interior Products
  • Hyde Leather
  • Albright's Supply

THR Favorites

Auto Upholstery - The Hog Ring - 1967 Ford Mustang

Design Studio: 1967-68 Mustang Door Panel

The Hog Ring Design Studio continues its … [more] about Design Studio: 1967-68 Mustang Door Panel

The Hog Ring - Roxan Jane of Range Needlework

Meet Roxan Jane of Range Needlework

Thanks to her beautifully crafted motorcycle … [more] about Meet Roxan Jane of Range Needlework

Auto Upholstery

No Limits with Programmable Sewing

We feature a lot of unique pleat designs on … [more] about No Limits with Programmable Sewing

The Hog Ring - Why are Headrests Difficult to Remove

Why are Headrests Difficult to Remove?

Ever wonder why some headrests are difficult … [more] about Why are Headrests Difficult to Remove?

Auto Upholstery - The Hog Ring - Ringbrothers

10 Questions for Ringbrothers’ Mike and Jim

Mike and Jim Ring of Ringbrothers are skilled … [more] about 10 Questions for Ringbrothers’ Mike and Jim

Auto Upholstery in the Early 1900s

Trimmers have a long and storied past – one … [more] about Auto Upholstery in the Early 1900s

Categories

Footer

Recent Articles

  • Last Call to Save Big on an NC Machine!
  • The Polestar 1 Features a Crystal Gear Shift
  • Bentley Rebrands Diamond Pleats as ‘Wellness Quilting’
  • Former Trimmer William Thiele Dies at 76
  • Try Dinamica: A Quality Alternative to Alcantara

Recent Comments

  • Dana Homb on Last Call to Save Big on an NC Machine!
  • Nina on Need to Repair Toyota Solara Rain Gutters?
  • guy on Keyston Bros is now a USA Distributor of Alcantara
  • guy on How to Upholster a Car Seat From Scratch
  • Eric on Browse Keyston’s 2022 Upholstery Catalog

Advertise With Us!

We're always looking for companies to collaborate with. Watch this short video about the benefits of sponsorship and then email us to say hi.
anal porno bangbros rus porno yaşlı porno konulu porno olgun porno porno izle sarışın porno bakire sex 69 porno

Copyright © 2022 · Magazine Pro On Genesis Framework · WordPress · Log in