The PPP offers $659 billion in loans to small business, nonprofits, sole proprietors and different eligible entities with fewer than 500 workers. Loans of as much as $10 million may be obtained to cover certain business costs including worker payroll, lease, insurance, paid sick or medical go away, curiosity on mortgage obligations and utilities.
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Additionally, businesses have revenue limits that they must not exceed if they need to qualify for SBA financing. In common, firms with greater than 1500 employees usually are not eligible for SBA loans. Homeowners could apply for as much as $200,000 to switch or repair their main residence. The loans will not be used to upgrade houses or make additions, except required by native constructing code. If you make improvements that help stop the chance of future property harm caused by an analogous disaster, you may be eligible for up to … Read More