Downriver Real Estate Group issued the following announcement on April 3.
VERY IMPORTANT TO READ
CLARIFICATION RE: TODAY'S SMALL BIZ PAYCHECK PROTECTION PROGRAM APPLICATION OPENING
Small business and nonprofit friends,
According to the SBA and US Treasury, today, April 3 is the day to begin submitting your Paycheck Protection Program loan applications to SBA approved lenders. HOWEVER, many of our SBA approved banking and lending institutions are not ready to implement this program. These hard working institutions are working to get clear guidance from the federal government and to create the application process. The application that was sent out from the Treasury WAS A SAMPLE APP, and banks will have their own version you will need to submit. MY RECOMMENDATION: Contact your SBA approved banking/lending institution to see when the app will be ready, and what your lender is requiring you to submit.
These potentially forgivable loans will provide operational expense funding for up to 2.5 months. Please be patient as our region's dedicated and hard-working SBA approved lenders implement this program for our community's job providers and entrepreneurs. I am very grateful for every one of them and applaud their service to our region. Please refer to the following link for information on the Paycheck Protection Program including SAMPLE applications and fact sheets. As a reminder, independent contractors and the self-employed can begin applying on April 10th.
https://myemail.constantcontact.com/Special-Update-from-the…
Original source can be found here.
Source: Downriver Real Estate Group
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