Capstone Turbine gets $2.6M Paycheck Protection Program SBA Loan

Capstone Turbine (CPST +1.3%) receives a loan under the Paycheck Protection Program of $2.6M

Earlier in March, Capstone Turbine furloughed, reduced hours, or reduced pay for around 70% of its direct workforce

Additionally, Capstone Turbine's CEO and senior executive team voluntarily took a temporary 25% pay cut, and other managers ~15% of the workforce, took a temporary 15% pay cut.

The term of the loan is two years, ending April 24, 2022.