Conformis Receives $4.7 Million under the Paycheck Protection Program
Conformis, Inc. (CFMS)
Last conformis, inc. earnings: 3/3 04:01 pm
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US:NASDAQ Investor Relations:
ir.conformis.com
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Source: GlobeNewswire
BILLERICA, Mass., April 20, 2020 (GLOBE NEWSWIRE) -- Conformis, Inc. (NASDAQ:CFMS) today announced that on April 17, 2020 the Company entered into a $4,719,800 promissory note with East West Bank (NASDAQ:EWBC) under the Paycheck Protection Program (“PPP”) offered by the U.S. Small Business Administration (the "SBA") to mitigate the negative financial and operational impacts of the coronavirus (COVID-19) pandemic. In response to the coronavirus (COVID-19) pandemic, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) authorizes the SBA to make available low-interest rate loans to qualified small businesses under the PPP. According to the terms of the PPP, all or a portion of the loan may be fully forgiven if the funds are used for payroll costs (and at least 75% of the forgiven amount must have been used for payroll), interest on certain other outstanding debt, rent, and utilities. About Conformis, Inc. Conformis is a medical technology company that uses its propr
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