Businesses Impacted By COVID 19 -
Payroll Protection Program
To all Jewell County Businesses!
The Payroll Protection Program is designed to pay 8 weeks of payroll, 8 weeks rent, 8 weeks utilities. And, if applicable, 8 weeks of mortgage rent expense on commercial building and 8 week of group coverage. The idea is to help businesses to retain or hire back employees so that they will be ready to roll when the "stay at home" orders are lifted versus no employees, no lights on, past due on rent and possibly lose your business location.
Potential loan forgiveness up to 75% of payroll and 25% of non-payroll eligible items (see attached NCRPC Profile for use of proceeds)
To apply you need the attached form and to provide the following information that is missing from the application form. Without the additional information requested below the bank will NOT be able to input your request into SBA's web portal.
Program is open now, except for 1099 workers/gig workers/etc. that can start applying on Friday April 10th. Program ends June 30, 2020. Money will go fast, so after reading more about the program and visiting with your accountant and/or local banker on whether you should apply - act SOON - act TODAY - act NOW.
PPP - ADDITIONAL APPLICATION INFORMATION
Application name: _______________________________(Identifier)
USE OF LOAN PROCEEDS
$__________Utilities for 8 weeks
$__________Payroll (2 x the 1-month average from application) put any excess here for maximum forgiveness
$__________Mortgage interest for 8 weeks
$__________Rent for 8 weeks
$__________Other-group health insurance
$__________Other eligible payroll items (This is a plug figure to get numbers to total the loan amount calculated in your appilcation form)
$__________Total Loan amount (from your PPP application form - Page 1)
______________NIACS Code (top left hand corner of tax return) or Google
______________Date business established (top right hand corner of tax return)
______________Zip code + ______4 digits (business address)
______________Zip code + ______4 digits (each owner listed on PPP application form - Page 1)
If you have questions, please contact your accountant or local bank.