Payroll Protection Program

This can be a game changer for your successful survival.

As you are probably aware, you may be eligible to apply for a Payroll Protection Loan which is 2 ½ times your average payroll. This loan can be forgiven, so it is important that you review the attached information to make sure you comply with eligibility for forgiveness later. It is also important to begin the following as soon as possible:

Contact your Banker to advise them that you intend to apply for this loan. Applications should be submitted as soon as possible after 04/03/2020

If you do not have a Banker, please check with your IMS Business representative who will help you find a Banking source.

Attached you will find the following important information:

Paycheck Protection Application

Payroll Protection Calculation worksheet

Background information about the program included in the PPP Borrower Information Fact Sheet and PPP Overview.

While the application date extends to June 30, 2020, due to the potential limited source of funds, it is strongly suggested that you submit your applications on April 3rd or very shortly thereafter (April 10, 2020, for independent contractors and self-employed).

Your IMS Business professional is ready to assist you with this process. Please reach out to them with any questions or if you need assistance in obtaining/gathering the information needed to apply.

Please let us know if you have any questions or comments.

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