Members and nonmembers of the Pine River Chamber of Commerce are invited to a presentation at Bites Grill and Bar to review one option for financial assistance during COVID-19.
The presentation at noon Tuesday, March 16, will feature Cy Struss of First National Bank North and Larrie Nelson of Pine River State Bank. They will speak on Payroll Protection Program loans available to businesses that have continued to employ workers during the pandemic.
The program is designed to help businesses to keep staff during the pandemic. Struss and Nelson are expected to lay out the details for those present, including:
- PPP second draw loans.
- Who qualifies.
- How and when businesses earn forgiveness.
- How the loan amounts are determined.
- How to apply.
Qualifying businesses must be able to prove that gross revenues were down 25% during any quarter in 2020. Deadline for applications is March 31. Further details will be discussed at the luncheon.
