• 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

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

Primary Sidebar

anal porno bangbros rus porno yaşlı porno konulu porno olgun porno porno izle sarışın porno bakire sex 69 porno

THR Sponsors

NC Sewing Machines
Miami Corporation - Right Rail Ad 3
  • Hyde Leather
  • Albright's Supply
  • OEM+ Banner Ad - The Hog Ring
  • Leather Craft
  • Keyston Bros
  • Douglass Interior Products

THR Favorites

Auto Upholstery - The Hog Ring - Door Panel Vinyl

Where to Find Mustang Door Panel Vinyl

Since its debut in 2005, the fifth-generation … [more] about Where to Find Mustang Door Panel Vinyl

Auto Upholstery - The Hog Ring - Design Studio

Design Studio: 1932 Ford Roadster

It’s no wonder the 1932 Ford Roadster is … [more] about Design Studio: 1932 Ford Roadster

Auto Upholstery - The Hog Ring - Molded Automotive Carpet

How Molded Vehicle Carpets are Made

Have you ever wondered how automotive carpet … [more] about How Molded Vehicle Carpets are Made

The Hog Ring - How to Make Your Own Hog Ring Pliers

How to Make Your Own Hog Ring Pliers

Lost your hog ring pliers? Ran out of hog … [more] about How to Make Your Own Hog Ring Pliers

Auto Upholstery - The Hog Ring - Design Studio

Design Studio: 1955-57 Chevy

The Hog Ring Design Studio is a growing … [more] about Design Studio: 1955-57 Chevy

Auto Upholstery - The Hog Ring - French Seam

Should You Reinforce French Seams?

To back or not to back? That is the question. … [more] about Should You Reinforce French Seams?

Categories

Footer

Recent Articles

  • Running a Trim Shop is Hard. This Free SBA Tool Makes It Easier
  • Subaru Seat Bolsters Are Failing. Here’s How to Fix Them (and Make Money)
  • Support Trimmers Affected by Catastrophic Flooding in Texas
  • Mercedes Reimagines Comfort with Custom Fit, 3D Printed Seat Pads
  • Wishing You a Happy Independence Day!

Recent Comments

  • Edward Munday on Hidden Mouse Nest? How to Charge for the Extra Dirty Work
  • Jack on Keyston Bros. Acquires DLT Corporation
  • Brodie Smith on Aston Martin Just Introduced a New Convertible DB12
  • THE CAPTAIN on 6 Tips for Turning Callers into Customers
  • Dmei on Star Wars Seat Covers are ‘So Wizard’

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.

Copyright © 2025 · Magazine Pro On Genesis Framework · WordPress · Log in