Only 6 weeks left for Paycheck Protection Program (PPP 2.0)! Apply Today!

The federal Paycheck Protection Program has been re-authorized (PPP 2.0), allowing eligible businesses to receive either a second loan—or a first loan if they didn’t get one initially.

So if you want in, you’ll need to act now. When the funding runs out, no more applications will be accepted.

horizontal green banner with white text "helping more than 4,000 small businesses gain access to over $500 million in relief"

 

Good to know

  • The race is on––funds could be exhausted in a few short weeks, so don’t wait.
  • Funds can be deposited directly to your bank account. You do not need to have an existing bank relationship.
  • Apply quickly and securely upload the required documents with ease.
  • 100% of the loan can be forgiven, as long as you follow the guidelines of the loan.

 

Who’s eligible?

  • Sole proprietors / Independent contractors / Self-employed individuals
  • Seasonal employers: Businesses that operate no more than 7 months within a year or earn less than one-third of gross receipts within a 6-month period
  • Faith-based organizations with fewer than 150 employees
  • Housing cooperatives that employ less than 300 people

 

PPP 2.0 highlights

  • Eligibility: Must have fewer than 300 employees and a 25% drop in sales in a quarter in 2020 compared to the same quarter in 2019.
  • Maximum loan amounts: 2.5x monthly payroll (3.5x for businesses in SIC Code 72 – restaurants, accommodations and others). All PPP-2 loans are capped at $2M.
  • Loans under $150k: Expect an expedited process relying on certifications rather than supporting documents.

 

Questions? Contact us!