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STIMULUS PACKAGE TO INCLUDE PAYCHECK SUPPORT

STIMULUS PACKAGE TO INCLUDE PAYCHECK SUPPORT

PUBLISHED: February 27, 2020

Feb 27, 2020 | All News, COVID-19 Updates

Paycheck support will protect businesses and their workers.

In response to the Coronavirus (COVID-19) pandemic in the U.S, a proposed stimulus package would also include provisions for immediate paycheck support for millions of Americans.

In the final stages of negotiations, the estimated $500 billion rescue fund would be provided for small businesses across many industries in order to help them continue to make payroll.

Additionally, companies with 500 or fewer employees could each take out up to $10 million in forgivable small business loans to assist in keeping workers employed and paychecks flowing. The new program would provide eight weeks of assistance through federally-guaranteed loans, qualifying certain employers who maintain payroll. If these employers adhere to the guidelines, other costs like mortgage interest, rent, and utilities would also be forgiven.

Furthermore, businesses would see a tax credit for keeping idled workers on their payrolls during the coronavirus pandemic, as long as these businesses meet certain criteria. They would likely receive a refund for half of what they spend on wages – up to $5,000 per worker.

About Trucept Inc.

True solutions, today and tomorrow: Trucept Inc. helps organizations focus on growing their business. With a dedicated suite of powerful tools and services designed to put business owners in charge of running their businesses and increasing efficiency, Trucept tackles a variety of important administrative needs and provides a host of value-added advantages. The company offers expert business services in the form of payroll, human resources, and management, employee benefits, accounting support, safety and risk management, and marketing and technology services.


For more information, call 858-798-1620 or visit https://trucept.com

Disclaimer

Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management’s current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company’s expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company’s success are more fully disclosed in the Company’s most recent public filings with the U.S. Securities and Exchange Commission (“SEC”), including its annual report on Form 10-K.

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