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CITY OF RACINE MICRO BUSINESS GRANT PROGRAM Located in the City of Racine? CUBIC is here for you! The City of Racine Micro Business Grant Program is focused on startup or existing businesses located

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How to fill out small businesses forgivable loan

01

Gather all necessary financial documentation such as payroll records, utility bills, and rent agreements.

02

Research and select a lender that is participating in the forgivable loan program.

03

Submit an application with the required documentation to the lender.

04

Wait for approval and sign any necessary paperwork.

05

Use the funds for eligible expenses like payroll, rent, utilities, and mortgage interest.

06

Keep detailed records of how the funds are spent to ensure compliance with forgiveness requirements.

07

Apply for loan forgiveness once the covered period is over and submit all required documentation.

Who needs small businesses forgivable loan?

01

Small businesses that have been financially impacted by the COVID-19 pandemic and are struggling to cover expenses such as payroll, rent, and utilities.

02

Businesses that need additional funds to continue operations and retain employees during uncertain times.

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What is small businesses forgivable loan?

Small businesses forgivable loan is a type of loan provided to small businesses that may be forgiven if certain conditions are met, such as using the funds for approved expenses.

Who is required to file small businesses forgivable loan?

Small businesses that have received forgivable loans are required to file the necessary documentation to be considered for loan forgiveness.

How to fill out small businesses forgivable loan?

Small businesses can fill out forgivable loan applications by providing all required information, documentation, and certifications as outlined by the loan program.

What is the purpose of small businesses forgivable loan?

The purpose of small businesses forgivable loan is to provide financial assistance to small businesses in need, while also encouraging them to retain employees and continue operations.

What information must be reported on small businesses forgivable loan?

Small businesses must report information such as payroll costs, rent or mortgage payments, utilities, and other approved expenses when applying for loan forgiveness.

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