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Company or
IONM ), is pleased to announce that it has received a loan (
Loan ) under the United States Small Business Administration s (
SBA ) Paycheck Protection Program Second Draw Loans under the Small Business Act, Paycheck Protection Program (
PPP ), implemented pursuant to the Coronavirus Aid, Relief, and Economic Security Act.
On March 2, 2021, Assure executed a PPP promissory note and received a $1,664,700 unsecured PPP loan, which matures on February 25, 2026 (the
Loan ). The Loan carries an interest rate of 1.0% per annum, with principal and interest payments due on the first day of each month, with payments commencing on the earlier of: (i) the day the amount of loan forgiveness granted to Assure is remitted by the SBA to the Bank of Oklahoma; and (ii) ten (10) months after the end of the twenty-four (24) week period following the grant of the Loan. All or a portion of the Loan may be forgiven if the Company maintains its employment and compensation w