My business has been struggling during the pandemic, and I'm aware that the government is offering stimulus loans to help businesses stay afloat. How can we get government stimulus loans even though we don't necessarily need it?
My business has been struggling during the pandemic, and I'm aware that the government is offering stimulus loans to help businesses stay afloat. How can we get government stimulus loans even though we don't necessarily need it?
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To be eligible for a government stimulus loan, your business must have less than 500 employees and demonstrate that its revenue has declined during the pandemic. You will need to apply through a lender that is participating in the stimulus loan program and provide financial information such as revenue and employment data so the lender can determine your eligibility.
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My business has been struggling during the pandemic, and I'm aware that the government is offering stimulus loans to help businesses stay afloat. How can we get government stimulus loans even though we don't necessarily need it?
user
Your business may be eligible for a loan under the SBA's Paycheck Protection Program (PPP). The program provides forgivable loans of up to $10 million for companies with fewer than 500 employees. For more information, you can check out the Small Business Administration's website or speak to a banker who specializes in such loans.
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