CreditRiskMonitor Announces Forgiveness of PPP Loan

Rhea-AI Summary

CreditRiskMonitor (CRMZ) announced that its Paycheck Protection Program (PPP) loan has been fully forgiven by the Small Business Administration (SBA). This signifies that the loan is now paid in full, alleviating any financial obligation related to it. The company, a provider of financial information for credit and procurement professionals, serves over 1,000 large companies, including 35% of the Fortune 1000. CreditRiskMonitor delivers comprehensive risk analyses and timely news alerts to help businesses manage financial risks effectively.

Positive

• PPP loan fully forgiven, reducing financial liabilities.

Negative

• None.

VALLEY COTTAGE, NY / ACCESSWIRE / December 16, 2021 / CreditRiskMonitor (OTCQX:CRMZ) CreditRiskMonitor's loan forgiveness was processed by the SBA (Small Business Administration) and our PPP (Payroll Protection Program) loan has been fully forgiven. This loan is now considered paid in full by SBA.

Overview

CreditRiskMonitor (http://www.crmz.com) is a web-based publisher of financial information that helps corporate credit and procurement professionals stay ahead of business financial risk quickly, accurately and cost effectively. The service offers comprehensive commercial credit reports and financial risk analysis covering public companies worldwide.

The Company also collects a significant amount of trade receivable data on both public and a select group of private companies every month, to help subscribers determine payment performance.

Over 35% of the Fortune 1000 plus over 1,000 other large companies worldwide depend on CreditRiskMonitor's timely news alerts and reports featuring detailed analyses of financial statements, ratio analysis and trend reports, peer analyses, bond agency ratings, crowdsourcing of risk professionals as well as the Company's proprietary FRISK® and PAYCE® scores.

Safe Harbor Statement

Certain statements in this press release, including statements prefaced by the words "anticipates", "estimates", "believes", "expects" or words of similar meaning, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, expectations or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, among others, risks associated with the COVID-19 pandemic and those risks, uncertainties and factors referenced from time to time as "risk factors" or otherwise in the Company's Registration Statements or Securities and Exchange Commission Reports. We disclaim any intention or obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.

CONTACT:
CreditRiskMonitor.com, Inc.
Jerry Flum, CEO
(845) 230-3030
ir@creditriskmonitor.com

SOURCE: CreditRiskMonitor.com, Inc.

View source version on accesswire.com:
https://www.accesswire.com/678186/CreditRiskMonitor-Announces-Forgiveness-of-PPP-Loan

FAQ

What does the PPP loan forgiveness mean for CreditRiskMonitor (CRMZ)?

The full forgiveness of the PPP loan means that CreditRiskMonitor no longer has any financial obligation related to this loan, which can improve its financial health.

How many companies rely on CreditRiskMonitor's services?

Over 1,000 large companies, including more than 35% of the Fortune 1000, depend on CreditRiskMonitor for financial risk analysis and credit reports.

What is the role of CreditRiskMonitor in the financial sector?

CreditRiskMonitor provides financial information and risk analysis to help corporate credit and procurement professionals manage business financial risks.

When did CreditRiskMonitor announce the PPP loan forgiveness?

CreditRiskMonitor announced the forgiveness of its PPP loan on December 16, 2021.