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Which is set at 2 5 times their payroll.
Stimulus small business payroll grant. These included the reopening of the paycheck protection program ppp expanding the employee retention tax credit ertc setting aside new funds for economic injury disaster loan eidl grants and creating new live venue grants. However ppp funds and ertc cannot be used to cover the same payroll costs. While you may be hopeful.
The amount of grant appears to be up to 45 of your 2019 revenue or 85 of 2019 operating expenses. Federal stimulus package and how your small business may qualify for help. The paycheck protection program is a forgivable loan intended to pay for eight weeks of a business s payroll costs so the company can retain workers or hire back those it has already laid off.
This grant will be given to small businesses located in low income communities who have experienced a 30 reduction in gross receipts during any 8 week period between. The second stimulus bill the economic aid to hard hit small businesses nonprofits and venues act has been passed by congress and signed into law by president trump. A first grant can be up to 10 million and a second grant could be up to 50 of the first grant.
A new round of stimulus checks is coming.
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