ImpediMed: Receives over US$1M CARES loan
- Medical software technology company ImpediMed (IPD) has received approximately US$1.1M from the U.S. CARES loan
- The U.S. CARES loan is designed to help businesses keep their workforce employed during the pandemic
- The loan will be forgiven as long as 75 per cent of the money is used for employees payroll
- However, if any portion of the loan is not forgiven, the loan will have a maturity of two years and an interest rate of one per cent
- On market close, ImpediMed remains steady, trading for 3.9 cents per share
- Under the program, Impedimed can defer its loan payments for six months
