Forgiveable loans are still up for grabs for businesses struggling during the pandemic.
IH Mississippi Valley Credit Union helped 320 businesses around the area get paycheck protection program loans.
That’s produced 21-million dollars for 3,000 local employees.
Business don’t have to repay the loans if they use 60 percent of the money on payroll, and the rest for other necessities.
Through the entire process, it’s important to be prepared.
The rules for loan forgiveness are still being finalized by the Small Business Administration.
Businesses who’ve received their assistance are encouraged to have paperwork ready to submit.
IH Mississippi Valley Credit Union has resources located here: https://www.ihmvcu.org/