APRIL 2, 2020
To our valued partners:
As a valued partner of PFSbrands, we are committed to supporting you and helping your business be more successful. With the effects of COVID-19 on the economy, and especially small businesses, the government and SBA have released the Payroll Protection Program (PPP) that we believe may be beneficial for your business. The PPP is a low interest loan designed to provide a direct incentive for small businesses to keep workers on payroll. The major benefit and differentiator of this program is the ability to have the loan forgiven (up to 100% of the loan) if the money is used appropriately. Below is some quick information on the program, as well as the application to apply and other informational documents.
| Topic | Description |
| Eligibility |
Small businesses with 500 or less employees |
|
Good Faith Certification |
Must make a Good Faith Certification stating you feel this has financially impacted your business |
|
Max Loan Calculation |
2019 Avg. Monthly Payroll x 2.5 |
|
Forgiven |
Up to 100% can be forgiven if used for payroll costs, rent, utilities, etc. |
|
Application |
Can apply starting April 3rd and ends June 30th |
For more information, download these resources:
- Payroll Protection Program Application
- Payroll Protection Program Overview
- Payroll Protection Program Fact Sheet
Best regards,
Shawn Burcham
Founder & CEO