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Apply for the SBA Paycheck Protection Program

Your business might be eligible for up to $10 million in relief funding.

What is the Paycheck Protection Program (PPP)?

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.

What are the rules to get the loan forgiven?

Who qualifies?

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

How much can I get?

What is the Paycheck Protection Program (PPP)?

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.


What are "payroll costs"?

  • Salary, wages, commissions, or tips (capped at $100,000 on an annualized basis for each employee)
  • Employee benefits including costs for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payments required for the provisions of group health care benefits including insurance premiums; and payment of any retirement benefit
  • State and local taxes assessed on compensation
  • For a sole proprietor or independent contractor: wages, commissions, income, or net earnings from self-employment, capped at $100,000 on an annualized basis for each employee


What are the rules to get the loan forgiven?

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.


Who qualifies?

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:

  • A business that operates 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 


How much can I get?

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

Contact us : (855) 297-6947

Eligible for forgiveness

Loans forgiven for eligible payroll, utilities, rent, and mortgage interest. Any amount not forgiven will have a 1% interest rate.

Based on payroll

Loans up to $10 million, with the max amount based on average monthly payroll x2.5.

Deferred payments

Payments on any amount not forgiven will be deferred for six months after loan is issued.

Deferred payments
Based on payroll
Eligible for forgiveness

Contact us (855) 297-6947

Get Started

Why the Paycheck Protection Program?

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