As gym owners try to piece together all the resources designed to help them in these trying times, we’ve been trying to disseminate as much useful information as possible. One particular area where there has been a lot of questions is the new Paycheck Protection Program (PPP). As you know, the PPP is a part of the CARE act that was approved at the end of March, and carries a loan forgiveness component with it. This is different than the EIDL program which has its own set of benefits and rules.
We began researching the two programs and we’ve put together a one-page document that lists out the differences between the two loans. This is a great way to help you decide what will work best for your situation. (For Naamly users, this document is also available under the Resources tab in your Naamly application – which is under the top right-hand corner of your name).
We hope the above info helps, but as all things in this new business landscape, things change quickly. We would invite you to share other areas where you need information and assistance during these crazy times. We will try to get the answers you need to help you move forward. We can do this together!
We truly hope you can continue to do what you do best – positively impact change people’s lives.
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