{"id":100464,"date":"2020-04-02T23:51:47","date_gmt":"2020-04-03T03:51:47","guid":{"rendered":"http:\/\/www.thevalleyledger.com\/?p=100464"},"modified":"2020-04-02T23:51:47","modified_gmt":"2020-04-03T03:51:47","slug":"critical-new-loan-program-helps-businesses-and-workers-affected-by-covid-19-mitigation","status":"publish","type":"post","link":"https:\/\/www.thevalleyledger.com\/?p=100464","title":{"rendered":"Critical New Loan Program Helps Businesses and Workers Affected by COVID-19 Mitigation"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>HARRISBURG \u2013 A new loan program offered by the federal government will help businesses, employees and self-employed individuals that have been impacted by the COVID-19 public health emergency, according to Senate Appropriations Chairman Pat Browne.<\/p>\n<p>The new Paycheck Protection Program will offer loans to cover payroll costs, mortgage interest, rent and utility costs over an eight-week period for businesses affected by coronavirus mitigation. The loans can be forgiven by the federal government if certain conditions are met.<\/p>\n<p>\u201cIt is critically important that we continue to provide resources to businesses and employees designed to help them through the disruptions that the COVID-19 emergency has caused,\u201d Senator Browne said. \u201cPennsylvania will continue to work with our federal partners to help provide relief to those affected by this crisis.\u201d<\/p>\n<p>Businesses must maintain their number of staff and level of payroll and quickly rehire any recently displaced employees in order to qualify for loan forgiveness.<\/p>\n<p>No more than 25 percent of the loan may cover anything other than payroll costs, and loan payments will be deferred for six months for any amount that is not forgiven.<\/p>\n<p>The program is open to small businesses, veterans organizations, sole proprietorships, self-employed individuals and independent contractors, so long as each entity has 500 or fewer employees.<\/p>\n<p>The application period for small businesses and sole proprietors will open on April 3. Self-employed individuals and contractors can apply starting on April 10.<\/p>\n<p>More details about the program are available here: <a href=\"https:\/\/www.sba.gov\/funding-programs\/loans\/coronavirus-relief-options\/paycheck-protection-program-ppp\">https:\/\/www.sba.gov\/funding-programs\/loans\/paycheck-protection-program-ppp<\/a>.<\/p>\n<p>Information provided to TVL by:<br \/>\nMatt Szuchyt<br \/>\nDeputy Director of Policy &amp; Communications<br \/>\nSenator Pat Browne<br \/>\nMajority Appropriations Chairman<br \/>\nPA 16th Senatorial District<br \/>\nwww.senatorbrowne.com<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><code class=\"code\">-AMAZONPOLLY-ONLYWORDS-START-<\/code><br \/>\n<div class='adkingprobanner sidebar banner3023'><a href='http:\/\/www.thevalleyledger.com\/' target=\"_blank\" data-id='3023' data-ga='{\"campaign\":\"\",\"banner\":\"\",\"implemented\":\"universal\",\"imp_action\":\"Impression\",\"click_action\":\"Click\"}'><img src='https:\/\/www.thevalleyledger.com\/wp-content\/uploads\/inpostblank.jpg' alt='' \/><\/a><\/div>\n&nbsp;<\/p>\n<div class='adkingprobanner sidebar banner7036'><a href='http:\/\/www.thevalleyledger.com' target=\"_blank\" data-id='7036' data-ga='{\"campaign\":\"\",\"banner\":\"\",\"implemented\":\"universal\",\"imp_action\":\"Impression\",\"click_action\":\"Click\"}'><img src='https:\/\/www.thevalleyledger.com\/wp-content\/uploads\/inpostblank.jpg' alt='' \/><\/a><\/div>\n<code class=\"code\">-AMAZONPOLLY-ONLYWORDS-END-<\/code><\/p>\n","protected":false},"excerpt":{"rendered":"&hellip; <a href=\"https:\/\/www.thevalleyledger.com\/?post_type=adverts_posts&p=7036\" class=\"read-more\">Click here to read more... <\/a>","protected":false},"author":2,"featured_media":100465,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[69,482],"tags":[],"class_list":["post-100464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-the-valley","category-press-release-2"],"jetpack_publicize_connections":[],"acf":[],"jetpack_featured_media_url":"https:\/\/www.thevalleyledger.com\/wp-content\/uploads\/2020\/04\/sba-relief.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/posts\/100464"}],"collection":[{"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=100464"}],"version-history":[{"count":0,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/posts\/100464\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/media\/100465"}],"wp:attachment":[{"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=100464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=100464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=100464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}