Bsquare Corporation, a builder of technology that is powering the next generation of intelligent devices and systems, announced the receipt of $1.6 million in funding from the Paycheck Protection Program (PPP).
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses in the US to keep their workers on the payroll. The US Small Business Administration forgives loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
“We proactively applied for these funds as part of our ongoing contingency planning and preparation,” said Ralph C. Derrickson, President and CEO, Bsquare. “Many of our customers have notified us that we are an essential supplier to their business which has in turn been designated as essential. The SBA PPP funding provides additional options for meeting our commitments to all Bsquare customers in this unprecedented environment. With economic uncertainty affecting all of us, we are pleased to be in position to maintain our personnel levels to continue serving our customers.”
Bsquare provides a suite of software and services that enables customers to build and operate the next generation of intelligent devices and systems. The company works with partners Microsoft and Intel to ensure our customers are on the leading edge of technology.
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