Marrone Bio Innovations Secures $1.7 Million Loan Under Paycheck Protection Program Provision of CARES Act
Marrone Bio Innovations, Inc. (MBII)
Last marrone bio innovations, inc. earnings: 11/12 04:05 pm
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US:NASDAQ Investor Relations:
investors.marronebio.com/investor-relations
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Source: GlobeNewswire
DAVIS, Calif., April 17, 2020 (GLOBE NEWSWIRE) -- Marrone Bio Innovations Inc. (NASDAQ: MBII) (the “Company” or “Marrone Bio”), an international leader in sustainable bioprotection and plant health solutions, has secured a $1.7 million loan under the Paycheck Protection Program (PPP) (the “Loan”) contained within the Coronavirus Aid, Relief and Economic Security (CARES) Act that was signed into law on March 27, 2020. As a U.S. small business, Marrone Bio qualified for the PPP, which allows businesses and nonprofits with fewer than 500 employees to obtain loans of up to $10 million to incent companies to maintain their workers as they manage the business disruptions caused by the COVID-19 pandemic. “Our grower customers are working to meet increasing demand to feed the nation and work as essential businesses during the COVID-19 pandemic. Our products are critical to their success, and we want to ensure our products and our employees are in place to service the needs of farmers acro
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