The Paycheck Protection Program was created to help companies through the recent COVID 19 pandemic.
A PPP loan offers businesses a loan to keep their employees on payroll and to pay specific qualified expenses a company had prior to the start of the pandemic.
If the business owner abides by specific program guidelines, they can apply for forgiveness of their entire loan amount.
The PPP is currently closed and not accepting new applications, but we are hopeful that the program will be renewed in upcoming legislation. The Mayster Group stands ready to help clients apply for a PPP loan when the program reopens.
In the meantime, if you currently have a PPP loan and need assistance with the forgiveness process, or you have any other questions, please contact us.