JACKSON, MI. – (WTVB) – Michigan’s small businesses who are struggling during the COVID-19 pandemic are being reminded there is assistance available.
Seventh District Republican Congressman Tim Walberg encourages owners of small businesses in Michigan to apply for the Paycheck Protection Program to receive emergency relief.
Loans under this new program will be forgiven if they are used to cover payroll and certain other expenses. Applications are now being accepted through an existing SBA lender.
The Paycheck Protection Program is also available. Walberg says it authorizes up to $349 billion in loans to help small businesses keep workers on their payroll.
Small businesses that have less than 500 employees are eligible.
Businesses with more than 500 employees are eligible in certain industries. A list of participating lenders as well as additional information and full terms can be found at www.sba.gov.
