The Tri-Community Safe
What is the Paycheck Protection Program (PPP)?
The PPP is a loan program that provides loan forgiveness for retaining employees. The PPP is a 100% federally guaranteed loan to help small businesses keep workers on payroll for a period of 8 weeks during this crisis. The loans can be up to $10 million with a 1.0% interest rate with a term of two years. It will be fully forgiven if at least 75% of the entire loan is allocated towards payroll, funds are used for eligible uses, and employment and compensation levels are maintained.
Additional State, Local and Private Sector Loans & Grants
The Governor’s Office of Business and Economic Development (GO-Biz) has compiled helpful information for employers, employees, and all Californians as it relates to the coronavirus (COVID-19) pandemic. Additionally there are several loan programs available through the CDC Small Business Finance and the Small Business Administration.
CURRENT STATE PUBLIC ORDER
The California State Public Health Officer and Director of the California Department of Public Health is ordering all individuals living in the State of California to stay home or at their place of residence, except as needed to maintain continuity of operation of the federal critical infrastructure sectors. This order is in effect until further notice. Details Here (includes a list of Essential Critical Infrastructure Workers)