Challenge for NAIC: Becoming 21st Century Regulators For a ...
The maximum loan amount is 2.5 times the average monthly payroll or $50,000 ($20,000 by 2.5). The company applied and received a loan of $50,000. For the 8-week period after it received the loan, the company uses $40,000 for payroll costs, $9,000 for rent and $2,000 on utilities for total qualifying expenses of $51,000. ................
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