17 Jan Certive Announces PPP Loan Forgiveness
Scottsdale Arizona and Vancouver British Columbia – Certive Solutions Inc. (OTCQB:CTVEF CSE:CBP) (“Certive” or the “Company”) is pleased to announce the following:
PPP Loan – As previously disclosed on April 22, 2020, the Company’s wholly-owned U.S. subsidiary, Certive Health Inc. (“CHI”), received a $368,600 loan through Western Alliance Bank pursuant to the Small Business Administration (“SBA”) Paycheck Protection Program under Division A, Title I of the CARES Act (the “PPP Loan”). The terms of the PPP Loan included the following: (i) a maturity date of two years; (ii) interest at 1.00% per annum; (iii) no early prepayment penalties; and (iv) amounts used by CHI for qualifying U.S. employee payroll costs during a 60-day period prior to June 22, 2020 could be forgiven by the SBA upon their approval of a CHI application for forgiveness filed with proper documentation. CHI ensured that the entirety of the funds received were used for qualifying expenses as intended. The Company is very pleased to report that it has recently received approval from the SBA for forgiveness of the $368,600 PPP Loan and $2,102 of Accrued Interest effective as of November 20, 2020.
For more information regarding this announcement, please visit our website at https://certivehealth.com or contact Certive directly at (480) 922-5327.
Investor Relations, Certive Solutions Inc. (480) 228-5881
About Certive Solutions Inc.
Certive Solutions Inc. (Scottsdale, Arizona) is currently 100% focused on the operations and value proposition of Certive Health Inc. and its subsidiaries. With identical Leadership, Board of Directors, Advisory Council and Vision, Certive Solutions is strategically positioned as a public company. All are investors in the company – all have significant networks. Their collective experience, expertise, and relationships is the people-equity upon which the company was founded. Certive Health’s vision is making the $3.7 trillion healthcare market better by applying its People-Equity and Capital to solutions in the healthcare communities it serves. Certive Health’s revenue cycle services and solutions help hospitals work through the complexity of the reimbursement process and improve financial and quality performance.
Statements contained in this report that are not statements of historical fact are intended to be and are hereby identified as “forward-looking statements” for purposes of the safe harbor provided by the Reform Act. Generally, forward-looking statements include expressed expectations of future events and the assumptions on which the expressed expectations are based. All forward looking statements are inherently uncertain as they are based on various expectations and assumptions concerning future events and they are subject to numerous known and unknown risks and uncertainties which could cause actual events or results to differ materially from those projected. Due to those uncertainties and risks, the investment community is urged not to place undue reliance on written or oral forward-looking statements of Certive Solutions Inc. The Company undertakes no obligation to update or revise this Safe Harbor Compliance Statement for Forward-Looking Statements (the “Safe Harbor Statement”) to reflect future developments. In addition, Certive undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.