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Let us help you apply for the SBA Paycheck Protection Program
Your business might be eligible for up to $10 million in relief funding through this new first come, first served program. Sign up to be connected with an SBA-participating partner.
This is a new program offering loans up to $10 million at a 1% interest rate, calculated based on 2.5x your average monthly payroll. As long as you follow the rules, these loans are 100% forgiven by the government.
This is a new program offering loans up to $10 million at a 1% interest rate, calculated based on 2.5x your average monthly payroll. As long as you follow the rules, these loans are 100% forgiven by the government.
Small businesses with fewer than 500 employees; independent contractors; and sole proprietors in business on February 15, 2020 can all qualify. Additionally, these groups can qualify
Operate an accommodation or food service business (NAICS Code 72) with 500 of fewer employees per location
A business assigned a franchise operator code by SBA
A business that receives assistance under the Small Business Investment Act
Assuming you qualify, you calculate the max loan value by:
Aggregating all annual payroll costs of US-based employees and subtract compensation over $100,000 paid to employees or independent contractors.
Calculating the average monthly payroll costs (take total annual payroll and divide by 12)
Multiplying the average payroll costs by 2.5
Subtracting any Economic Injury Disaster Loan (EIDL) amount for which you’ve already received an advance from January 31 2020- April 3, 2020
This is a new program offering loans up to $10 million at a 1% interest rate, calculated based on 2.5x your average monthly payroll costs. As long as you use the proceeds of the loan under the rules, these loans are 100% forgiven by the government.
The SBA will forgive 100% of the loan as long as you use 75% of the money for payroll costs within 8 weeks after you receive it.
Small businesses with fewer than 500 employees (subject to certain limited exceptions); independent contractors; and sole proprietors in business on February 15, 2020 can all qualify. Additionally, the following groups can qualify:
Assuming you qualify, you calculate the max loan value by:
Contact us : (855) 297-6947
Loans forgiven for eligible payroll, utilities, rent, and mortgage interest. Any amount not forgiven will have a 1% interest rate.
Loans up to $10 million, with the max amount based on average monthly payroll x2.5.
Payments on any amount not forgiven will be deferred for six months after loan is issued.
Contact us (855) 297-6947
Contact us
(855) 297-6947