CRITICAL INFORMATION -
Federal Money Available to Dealerships
Congress has passed the CARES Act providing financial support for American citizens and businesses. If you own a dealership that employs less than 500 people you should be eligible for a
Paycheck Protection Program
loan.
This loan is equal to 2.5 times your monthly payroll (up to $10 million). Most importantly, an amount equal to your first 8 weeks of payroll expenses after receipt of the loan will be forgiven (MEANING YOU DO NOT HAVE TO PAY IT BACK).
Unlike other SBA loans,
Paycheck Protection Program
loans are
processed by your bank. CONTACT YOUR BANKER IMMEDIATELY
about applying for this important federal benefit.
