The US subsidiary of BrainCool AB (publ), BrainCool Inc has been approved for an SBA loan of K $ 130 through the Paycheck Protection Program
The funds are part of the US small business administration (“SBA”) actions to support and provide a direct incentive for small businesses in the US. The interest rate is 1 % and the term of the loan is 2 years. Furthermore one could qualify for that all of the loan can be forgiven. The forgiveness rules relate to keeping the organization and workforce in place post the Covid-19 crisis in 2020.