To start a business, you need to have a good investment. Business owners recognize the need of money before kickstarting their projects and turn to the banks for loans. Due to the ongoing pandemic the businesses have suffered quite drastically, especially the small businesses. Few of them don’t even have the money to pay their employees.
The US Small Business Administration (SBA) has introduced the Paycheck Protection Program (PPP) is essentially a loan program for small businesses that will help their employees and workforce going to sustain their business due to the coronavirus. This program has supported nearly a third of transportation companies in the US since its introduction in April.
There are a number of benefits of this program including loan forgiveness under a few circumstances among many other benefits. Take a look at the following infographic.
Infographic by: freightwaves.com