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Stay up-to-date with our latest coverage on the impacts of coronavirus on technology, marketing, and the digital economy here. The scheme allows small businesses to apply for loan forgiveness and waives personal guarantee requirements. Businesses will be able to apply for a loan as high as 2.5 times their payroll, or up to $10 million — whichever one is lower. Additionally, they'll be able to apply for forgiveness of the loan, or at least part of it, depending on how much of it they used during the eight weeks following the loan approval.
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