Small Business Administration’s PPP Loan Awarded

Just a quick update from us folks behind the proscenium curtain:

On May 12, 2020, the Crandell Theatre received a loan as part of the Small Business Administration’s Paycheck Protection Program (PPP). The Paycheck Protection Program is designed to provide a direct incentive for small businesses and nonprofit organizations to keep their workers on the payroll. SBA will forgive loans that are redistributed to employees’ salaries for eight weeks, as well as for rent expenses, mortgage interest, or utilities. Due to the nature of this program, the Crandell anticipates that 100% of these funds will be federally forgiven, thus turning the loan into a grant.

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