Irvine, California, USA – TopLine has received welcome and timely funding from the U.S. Government Paycheck Protection Program, or PPP, CEO Martin Hart announced today. Hart expressed gratitude for the U.S. Legislation that sponsored the SBA initiative, part of the Federal Government relief efforts for U.S. businesses impacted by the COVID-19 pandemic.

TopLine applied for funding on April 4, 2020, a day after the SBA officially began accepting applications from small corporations with fewer than 500 employees. “Funding provided under the PPP program enables TopLine to stay open and fulfill our commitments to deliver goods and services on time,” Hart said. "We consider ourselves one of the lucky ones.”

"We received funding at noon on April 16, after 12 days of heightened anxiety dealing with overly-taxed banking web sites that frequently crashed while we followed the prescribed steps to upload documents needed for applying for financial assistance," says Hart. Both Industry and Banking had to quickly study the requirements and nuances of the new PPP funded legislation, and Hart and his financial officers attended several Zoom-style webinars where the SBA and banks explained the process required to apply for funding. The banking community was immediately deluged by huge volumes of businesses who submitted applications during the compressed period in which $350 billion in funding became available. On April 16, the SBA reportedly ran out of the much-needed funds intended to assist small businesses.

TopLine is an essential supplier, supporting government contracts for defense and aerospace industries. "Under the guidelines of the PPP, TopLine is committed to retaining all of our employees," Hart said.

About TopLine

TopLine manufactures a wide range of daisy chain semiconductor packages for process development, experimentation, machine evaluation, solder training, and SMT assembly practice. TopLine products provide hands-on learning for engineers. Contact TopLine Corporation, Tel (800) 776-9888; Email: info@TopLine.tv.

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