PPP - ROUnd two

 

Please add your contact info to be directed to the application link 


 

You are under no obligation to submit an application with Business Funding Group's joint venture partner, but you are consenting to be notified when the application becomes available.

PPP is Here - Apply Today 

Add your contact info and you'll be directed to the application link! 


 

WHAT YOU SHOULD KNOW: 

  • Borrowers may receive a loan amount up to 2.5x the average monthly payroll in the one year prior to the loan or the calendar year (up to $2 million). Restaurants and other hospitality businesses may multiply those costs by 3.5x, making them eligible for slightly more funding 

  • Loan is 100% forgivable when proceeds are used as directed

  • Most business entity types are eligible - even sole proprietors and independent contractors

  • The legislation includes $284 billion for PPP

  • Borrowers may apply for the second round of PPP, even before applying for forgiveness on their first round

  • If you've already received a PPP loan, you may apply again as long as:
    • You have no more than 300 employees

    • You can demonstrate a loss of 25 percent of gross receipts in any quarter during 2020 when compared to the same quarter in 2019

    • You've used the full amount of your first PPP loan before the second loan is disbursed


 

 

The new stimulus bill has also made traditional SBA growth financing more advantageous for small businesses. If you are seeking growth financing for working capital, to purchase commercial real estate or to refinance business loans and you would like to take advantage of the promotions made available through the new bill, call (646) 699-1400 to speak to an SBA Funding representative!

*Disclaimer: SBA Loan Group and SBA Funding (collectively known as Business Funding Group, or BFG) are not a U.S. Small Business Administration's ("SBA") Paycheck Protection Program bank or a lender and we do not promise or guarantee any loan from any bank or lender. Any relationship or documentation for an application to be submitted or reviewed will not be submitted to BFG, but submitted directly to and with the provider that we've engaged in a joint venture with exclusively for the Paycheck Protection Program. BFG will only refer you to our exclusive joint venture partner which is licensed and authorized by the SBA to participate or provide loans for the Paycheck Protection Program.