ATTENTION.... Covered Period: 2/15/2020 to 6/30/2020
Small Business Paycheck Protection Program
For this short time period on if you are IN need of an SBA Loan This is what you are looking for. I work with lenders that can get you funded through the Paycheck Protection Program which provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
• SBA fees waived
• Up to $10 million - 2.5x payroll expenses
• 1% Interest Rate fixed for life of the loan
• No Collateral Required
• No Personal Guarantee
• Loan Can be Forgiven
Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.
Must Keep Employees on the Payroll—or Rehire Quickly
Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.
All Small Businesses Eligible
Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors are eligible. Businesses with more than 500 employees are eligible in certain industries.
You can contact with me at firstname.lastname@example.org and I will put you InTouch with someone that can help.