Paycheck Protection Program (2021): Apply Here!

How To Apply?

STEP 1 – Apply Fill out our quick application form on this page and you’ll be entered in to our queue for processing.

STEP 2 – Connect You’ll receive an official welcome email providing more details on the loan process and next steps

STEP 3 – Upload You’ll receive an invite to our secure portal where you will be able to upload all required documentation

What Is The COVID-19 Reliefe
For Small Businesses?

The government is helping small businesses bridge this economic emergency by giving them the funds they need to keep their employees on their payroll and stay in business. Thanks to The CARES Act, the government is helping hardworking American business owners by:

Providing $350 billion in forgivable loans for small businesses through the Paycheck Protection Program
Providing advances on SBA disaster loans that never have to be repaid
Forgiving existing non-disaster SBA loan payments over the next six months

Benefits of an SBA-Backed Paycheck Protection Program Loan:

Low Interest Rate Just 1% APR for the entire life of your Paycheck Protection Program loan.

100% Loan Forgiveness For qualified loan uses like payroll, mortgage interest, rent, and utilities.

Defer Payments Payments deferred for the first 6 months, and up to 12 months for some qualifying borrowers.

2-Year Terms Availbale Spread out payments over a two-year term to make your loan even more affordable.

Paycheck Protection Program FAQs

The following are the aspects of the Paycheck Protection Plan as we have interpreted in the CARES Act. These are subject to change upon guidance from the SBA and the U.S. government.

Who Is Eligible? Each of the following as of 2/15/2020
- All businesses, nonprofit entities, veteran’s organization, and Tribal business concerns, so long as the borrowing entity does not have more than 500 employees (or the applicable size standard for the industry as provided by SBA).
- Sole-proprietors, independent contractors, and other self-employed individuals.
- Businesses with more than one physical location, so long as total combined employees are 500 employees or less. (Businesses with a NAICS code beginning with 72, Accommodation and Food services, are eligible as long as each location does not exceed 500 employees.)
- Waives affiliation rules for businesses with 1) assigned a NAICS code beginning with 72 and do not have more than 500 employees, 2) SBA-approved franchises, and 3) small businesses that receive financing through the Small Business Investment Company (SBIC) program.
- Applies current SBA affiliation rules to eligible nonprofits.
- Neither the business or owner can be presently suspended, debarred, proposed for debarment, declared ineligible, voluntarily excluded from participation in this transaction by any Federal department or agency, or presently involved in any bankruptcy.
- The borrower, any of its owners, or any business owned or controlled by any of them, cannot ever have obtained a direct or guaranteed loan from SBA or any other Federal agency that is currently delinquent or has defaulted in the last 7 years and caused a loss to the government
- Any 20%+ owners cannot presently be subject to an indictment, criminal information, arraignment, or other means by which formal criminal charges have been brought in any jurisdiction, or presently incarcerated, on probation, or parole.
- Within the last seven years, no 20%+ owner can have any felony or misdemeanor for a crime against a minor whereby the individual has 1) been convicted; 2) pleaded guilty; 3) pleaded nolo contendere; 4) been placed on pretrial diversion; or 5) been placed on any form of parole or probation (including probation before judgment).
- All 20%+ owners must be a US Citizen or lawful permanent resident.
- The business and each 20%+ owner must complete the SBA application form including a certification that current economic uncertainty makes the loan request necessary to support the ongoing operations of the Application; the funds will be used to retain workers and maintain payroll or make mortgage payments, lease payments, and utility payments; and that if funds are used for unauthorized purposes, the federal government may pursue criminal fraud charges.
What is needed to determine Eligibility?
Business must be operational as of February 15, 2020 and had employees for whom it paid salaries and payroll taxes, or a paid independent contractor. The dollar amount of the average monthly payroll costs will have to be verified by our team.
How do you calculate the total loan amount?
- For businesses operating between February 15, 2019 and June 30, 2019, the average eligible monthly payroll costs* incurred during the 1-year period before the date on which the loan is made multiplied by 2.5 (represents months) – plus – the balance of any SBA disaster loan closed between January 31, 2020 and when this loan will be made, if applicable – OR – $10 million whichever is less.
- For a business not operating between February 15, 2019 and June 30, 2019, the average eligible monthly payroll costs* incurred during the period between January 1, 2020 and February 29, 2020 multiplied by 2.5 (represents months) – plus – the balance of any SBA disaster loan closed between January 31, 2020 and when this loan will be made, if applicable – OR – $10 million whichever is less.
What is the allowable use of proceeds?
- Eligible payroll costs, including benefits
- Interest on mortgage obligations that were in place as of February 15, 2020 (excludes any prepayment of or payment of principal)
- Rent under lease agreements in force before February 15, 2020; and
- Utilities, for which service began before February 15, 2020.
What is the interest rate and term?
- The interest rate will be 1%.
- The loan term will be two years.
What collateral is required?
The loan will be unsecured.
Are personal guarantees required?
No.
Is the Credit Elsewhere Rule enforced?
No.
Other Conditions and Requirements
- If a borrower has an EIDL Loan unrelated to COVID-19, borrower is still eligible.
- The emergency EIDL grant award of up to $10,000 would be subtracted from the amount forgiven under the Paycheck Protection Program.
- Eligible borrowers will be required to make a good faith certification that:
- - The loan is necessary due to the uncertainty of current economic conditions caused by COVID-19
  - They will use the funds to retain workers and maintain payroll and/or make mortgage, lease, and utility payments; and
- - Are not applying for or receiving duplicative funds for the same uses from another SBA program.
Is it true I won’t have to pay back my loan?
- The borrower is eligible for loan forgiveness so long as the loan proceeds are used to cover payroll costs (as defined above), and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made (up until 6/30/2020); and employee and compensation levels are maintained.
- Payroll costs are capped at $100,000 on an annualized basis for each employee.
- Not more than 25% of the forgiveness amount may be for non-payroll costs.
- Amounts forgiven may not exceed the principal amount of the loan.
- Borrowers will verify these payments through documentation required by lenders, such as (but not limited to) IRS Payroll Expense Forms 940 and 941, mortgage statements, lease statements and utility statements.
- Note: Your loan forgiveness will be reduced if you decrease your full-time employee headcount.
  - Your loan forgiveness will also be reduced if you decrease salaries and wages by more than 25% for any employee that made less than $100,000 annualized in 2019.
  - You have until June 30, 2020 to restore your full-time employment and salary levels for any changes made between February 15, 2020 and April 26, 2020.
- Any loan amounts not forgiven at the end of one year are carried forward as an ongoing loan, due in full 2 years from the note date. The 100% loan guarantee remains intact.
Can I get both a disaster loan (EIDL) and a Paycheck Protection Plan (PPP) Loan ?
- The law does not allow borrowers to get both an SBA disaster loan and a PPP loan. If an EIDL loan was obtained between January 31, 2020 and March 27, 2020 (date of the signing of the CARES Act), this loan may be able to be rolled into the PPP loan request. However, a borrower cannot obtain both an EIDL and PPP loan.
What will be the Required Application Document Checklist?
- Here is a list of what we believe we’ll need to process your relief loan:
  - Completed Application
  - Completed SBA Paycheck Protection Program Application Form (SBA Form 2483)
  - Articles of Incorporation/Organization of each borrowing entity
  - By Laws/Operating Agreement of each borrowing entity
  - All owners Driver’s Licenses (front and back)
  - Certification Form executed by the recipient
  - Payroll Expense verification documents may include, but not limited to, the following (subject to change once SBA guidelines have been released):
  - - IRS Form 940 and 941
    - Payroll Summary Report with corresponding bank statement
    - If a Payroll Summary Report is not available, Employee Pay Stubs as of February 15, 2020 (or corresponding period) with corresponding bank statement
    - Breakdown of payroll benefits (vacation, allowance for dismissal, group healthcare benefits, retirement benefits, etc.)
    - 1099s (if Independent Contractor)
    - Certification that all employees live within the United States. If any employees do not live in the Unites States, provide a detailed list with corresponding salaries of all employees outside the United States
    - Trailing twelve-month profit and loss statement (as of the date of application) for all applicants.
  - Most recent Mortgage Statement or Rent Statement (Lease)
  - Most recent Utility Bills (Electric, Gas, Telephone, Internet, Water)

Get your small business?
loan today.

Get additional funding with your Paycheck Protection
Program loan. Applying is free and it won’t impact your credit.

Apply Now

One moment please...

LOAN REQUEST FORM

X

Data Privacy
Protected

No Cost,
No Obligation Quote

Paycheck Protection Program

LOAN REQUEST FORM

LOAN REQUEST FORM

LOAN REQUEST FORM

How To Apply?

What Is The COVID-19 Reliefe
For Small Businesses?

Benefits of an SBA-Backed Paycheck Protection Program Loan:

Paycheck Protection Program FAQs

Get your small business?
loan today.

LOAN REQUEST FORM

Over $900 million matched to US Businesses

Paycheck Protection Program

LOAN REQUEST FORM

LOAN REQUEST FORM

LOAN REQUEST FORM

How To Apply?

What Is The COVID-19 Reliefe For Small Businesses?

Benefits of an SBA-Backed Paycheck Protection Program Loan:

Paycheck Protection Program FAQs

Get your small business? loan today.

LOAN REQUEST FORM

Over $900 million matched to US Businesses

What Is The COVID-19 Reliefe
For Small Businesses?

Get your small business?
loan today.