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WTF happened in 1971? 📉 (Startup Watching #238)

WTF happened in 1971? 📉 (Startup Watching #238)
By Andrew Askins • Issue #238 • View online
Happy Thursday Watchers!
If you’re running a small business of any kind in the US right now, I’d highly recommend looking into the loans being offered through the Paycheck Protection Program as part of the CARES Act.
These loans are fully forgiven provided you use them to cover payroll, making them in essence a grant from the federal government to help your business weather the effects of Covid 19.
Any business with under 500 employees is eligible for a loan of up to 2.5 times your average payroll costs, based on your 2019 numbers. Applications go live Friday and you’ll want to work with your bank to apply for the funding.
Synovus Bank has the most clear cut guidelines of any bank I’ve found:
And Justworks has a great guide to the CARES Act for employees and businesses:
Hope you’re staying safe and adjusting to life in quarantine. I made some homemade brownies tonight. Somehow every time I bake my kitchen turns into a disaster zone.
Cheers from Charleston ✌️

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Andrew Askins

Curated knowledge, inspiration and background stories from the startup world. Delivered to your inbox every now and then 📬 | Find me @andrewaskins.

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